January 27, 2022

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All Articles

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By Sophia Kunthara, 

 

Shares of clothing rental company Rent the Runway ended their first day of trading below the company’s IPO price, closing at $19.29.

Rent the Runway’s first day as a public company started off strong. Its stock opened nearly 10 percent above its IPO price on Wednesday, as the New York-based startup began trading on the Nasdaq under the ticker symbol RENT. The company priced its shares at $21—the top of its range—and raised $357 million through its IPO.

The stock opened at $23 on Wednesday before falling in the afternoon.

Rent the Runway’s IPO comes after a tough year or so for the company. While the popular clothing rental company reached a $1 billion valuation in...

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By Sophia Kunthara,

Almost three decades since sci-fi author Neal Stephenson coined the phrase, the metaverse is moving closer to reality. But despite well over $10 billion in venture funding...

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By Sophia Kunthara,

Electric vehicle maker Rivian closed out its first day of trading at 29 percent above its initial public offering price, after an upsized IPO. The company raised...

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