Rent the Runway shares jumped in their IPO Wednesday as signs pointed toward renewed demand for clothing rental
Rent the Runway Inc.’s shares rose 9.5% in its market debut on Wednesday as the company signaled confidence that the clothing-rental business is making a comeback.
The stock opened at $23 on the Nasdaq Stock Market under the symbol RENT. That compares with its initial-public-offering price of $21 a share. Wednesday’s open values the company at $1.71 billion.
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