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How to buy Rent the Runway stock when it goes public

Here's everything we know so far about the Rent the Runway IPO.

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Fact checked

Rent the Runway stock is not yet available to purchase on any exchange. But it's expected to go public soon. Here's what we know — and how to buy in when it launches.

What we know about the Rent the Runway IPO

Rent the Runway is a women’s rental clothing company that was founded in 2009. It allows customers to rent designer clothing and accessories online through subscriptions or on a one-time basis. Rent the Runway leases these products to deliver to consumers on a rental basis and identifies itself as a logistics business.

The company is headquartered in New York City. While Rent the Runway offers very little public information about its financials, it was reportedly valued at $1 billion in March 2020. However, struggling with maintaining operations at full capacity during the COVID-19 pandemic has caused its valuation to sink.

The pandemic also forced Rent the Runway to close all its brick-and-mortar stores. The company reported to CNBC in August 2020 that it doesn't plan to reopen its stores and it will instead focus on digital services and expanding drop-off sites. Rent the Runway also responded to the coronavirus-driven challenges by making layoffs and financial cuts.

However, CEO and founder Jennifer Hyman has voiced optimism over operations into 2021. It’s still in the market to raise money and potentially eying an IPO. We will update this listing and provide information such as initial stock share price as soon as it becomes available.

How to buy shares in Rent the Runway when it goes public

Once Rent the Runway goes public, you'll need a brokerage account to invest. Consider opening a brokerage account today so you're ready as soon as the stock hits the market.

  1. Compare share trading platforms. If you're a beginner, look for a platform with low commissions, expert ratings and investment tools to track your portfolio. Narrow down top brands with our comparison table.
  2. Open and fund your brokerage account. Complete an application with your personal and financial details, like your ID and bank information. Fund your account with a bank transfer, credit card or debit card.
  3. Search for Rent the Runway. Find the stock by name or ticker symbol. Research its history to confirm it's a solid investment against your financial goals.
  4. Purchase now or later. Buy immediately with a market order or use a limit order to delay your purchase until Rent the Runway reaches your desired price. To spread out your purchase, look into dollar-cost averaging, which smooths out buying at consistent intervals and amounts.
  5. Decide on how many to buy. Weigh your budget against a diversified portfolio that can minimize risk through the market's ups and downs. You may be able to buy a fractional share of Rent the Runway, depending on your broker.
  6. Check in on your investment. Congratulations, you own a part of Rent the Runway. Optimize your portfolio by tracking how your stock — and even the business — performs with an eye on the long term. You may be eligible for dividends and shareholder voting rights on directors and management that can affect your stock.

How do similar companies perform?

It's impossible to predict how any stock will perform — and IPOs can be particularly volatile. But evaluating the performance of companies like Rent the Runway can be useful in determining how the market is performing and whether now is a good time to invest in this industry. Select a company to learn more about what they do and how their stock performs, including market capitalization, the price-to-earnings (P/E) ratio, price/earnings-to-growth (PEG) ratio and dividend yield. While this list includes a selection of the most well-known and popular stocks, it doesn't include every stock available.

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The value of any investment can go up or down depending on news, trends and market conditions. We are not investment advisers, so do your own due diligence to understand the risks before you invest.

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