Rent the Runway Inc. /zigman2/quotes/208217928/composite RENT -3.58% received a warm reception on its Wall Street debut, as the fashion rental company's stock opened 9.5% above the initial public offering price. The Brooklyn-based company said overnight that it raised $357.0 million as its upsized IPO of 17.0 million shares priced at $21 a share, at the top of the expected range. The stock's first trade on the Nasdaq was at $23.00 at 11:52 a.m. Eastern for 1.7 million shares. At that price, the company was valued at about $1.4 billion. The upbeat opening for Rent the Runway's stock comes on a day of relative investor disdain for IPOs, as the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO -3.85% slumped 1.3% in midday trading while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.84% eased less than 0.1%.