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Does Poshmark’s Overperforming Portend a Shift for the Apparel Industry?

Poshmark (ticker: POSH) shares entered the public market last week, with shares soaring nearly 142%, opening at $97.50 and hitting a high of $104.98, with a Thursday close at $101.50, making it up 141.7%. This kind of feels like the 90s dot-com boom. Will it lead to a bust? The Poshmark CEO thinks not.

Monday, January 18, 2021

In an article published by The Information following Poshmark’s “142% IPO Pop,” CEO Manish Chandra stated the surge didn’t signal “irrational exuberance as much as appetite for companies that proved they can make it.” Chandra told The Information, “I am 53 years old, so I’ve seen the dot-com market and I don’t think the current market is that. There’s real revenues and real sorts of businesses going public.”

Poshmark (Source: Shutterstock)

As a side note, Petco also went public that day, with shares gaining about 83%. It’s CEO, Ron Coughlin, said, “Really smart investors believed in our strategy and people. It’s an exciting day for Petco.”


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About Cary Sherburne

Cary Sherburne is a well-known author, journalist and marketing consultant whose practice is focused on marketing communications strategies for the printing and publishing industries.

Cary Sherburne is available for speaking engagements and consulting projects. To get more information contact us.

Please offer your feedback to Cary. She can be reached at [email protected].

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