What Poshmark sale means for The RealReal, ThredUp and StichFix - San Francisco Business Times

Bay Area consignors The RealReal and ThredUp and styling service Stitch Fix all saw their stock jump at least 16% on Tuesday following news that Redwood City-based PoshmarkAnalysts who follow the sector noted that Poshmark's acquisition price — about quadruple its projected gross profit for fiscal year 2022 — could lead to a stock price"floor" for competitors. Poshmark closed up 13% Tuesday to $17.71, near the $17.90 Naver agreed to pay.

"You look at the price Poshmark was able to get and the valuation that ThredUp and RealReal trade at in the public markets, and there's a very wide disparity there," Nikic said in an interview on Tuesday. Shares of RealReal and ThredUp, both struggling to chart a path to near-term profitability, are down more than 90% and 80%, respectively, since they went public in 2019 and 2021. Poshmark, too, was trading well below a 2021 IPO valuation that reached as high as $7.5 billion.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock Market Today: Dow Gains Over 600 Points; Tesla Falls; Oil SurgesThe Dow rallied about 600 points as stocks rose broadly to start the fourth quarter. Treasury yields pulled back from multiyear highs.
Source: WSJ - 🏆 98. / 63 Read more »

Stock Market Today: Dow Closes Nearly 800 Points Higher; Tesla Falls; Oil SurgesThe Dow industrials surged more than 700 points, as stocks staged a broad rally to start the fourth quarter after a punishing stretch of down days tesla falls, oil surges. Just like the old days. Dow will be down 1500 tomorrow at a minimum. Darkest days are ahead. Nope
Source: WSJ - 🏆 98. / 63 Read more »