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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.
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.
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.
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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