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Poshmark Inc. stock began trading on Thursday and quickly shot up 145%. The first trade was for $97.50 at 11:42 a.m. ET. Poshmark priced its IPO at $42 per share (https://www.wsj.com/articles/poshmark-set-to-join-the-ipo-boom-11610557667#::text=Poshmark%20said%20it%20priced%20its,period%20ahead%20of%20its%20IPO.), ahead of the previous $35-to-$39 range. The digital fashion platform (http://www.marketwatch.com/story/poshmark-ipo-5-things-to-know-about-the-online-marketplace-before-it-goes-public-11608745839) is going public at a time when shoppers are heading increasingly online rather than to stores during the COVID-19 pandemic. The Renaissance IPO ETF (IPO) has rallied 112.4% over the last year while the benchmark S&P 500 index is up 16.2% for the period.

-Tonya Garcia; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

January 14, 2021 11:58 ET (16:58 GMT)

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