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Rent the Runway Jumps in Public Market Debut

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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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Innovative idea. Rent, Wear, Return, Repeat. Nice!

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