Stitch Fix Inc. shares closed at a record high Friday, a third straight trading day of gains since the company’s lackluster initial public offering last week. The company’s stock closed at $18.62, up more than 7% after touching an intraday record of $19.49, besting its first trading day high of $18.53. Investors sent the stock up 6.4% Tuesday and 10% Wednesday ahead of Black Friday. Though analysts interviewed by MarketWatch said the company is worth watching, its IPO was far from a textbook success. The S&P 500 index is up 16% this year.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News