NEW YORK (AP) — Shares of ThredUp rose more than 40% in their stock market debut Friday, reflecting investor enthusiasm for the online seller of second-hand women’s and children’s clothing. Late Thursday, ThredUp’s initial public offering of 12 million shares was priced at $14 a share, the high end of its expected range of $12 to $14. That raised about $168 million before underwriting fees. The shares opened at $18.25 and closed at $20. ThredUp’s debut comes as the resale market has remained resilient during the pandemic, benefiting from shoppers’ accelerated shift online and customers’ steadfast focus on second-hand goods as they become more conscious about the environment.
