Shares of Stitch Fix Inc. rallied in their debut, a pleasant surprise after the online clothing service’s initial public offering priced well below the expected range. The online clothing service’s stock opened at $16.90 at 10:26 a.m. ET, or 12.7% above the $15 IPO price, and was recently trading up 15.0%. The IPO priced late Thursday below the expected range of $18 to $20. Stitch Fix sold 8 million shares in the IPO to raise $120 million before options granted to underwriters. Stitch Fix went public at a time when the Renaissance IPO ETF has gained 9.3% over the past three months and the S&P 500 has tacked on 6.2%.
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