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How to buy Rent the Runway (RENT) stock in Canada

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

Rent the Runway stock is now publicly available to purchase. Here's how you can buy in.

What we know about the Rent the Runway IPO

On Wednesday October 27, 2021, Rent the Runway began publicly trading on the Nasdaq Global Select Market under the ticker symbol "RENT."

The opening stock price was $23.00, which was higher than the previously announced price of $21.00.

To learn more about the company's IPO, view its registration filing with the US Security and Exchange Commission (SEC). We'll update this page as more information becomes available.

About Rent the Runway

Founded in 2009, Rent the Runway is a US-based women’s rental clothing company that allows customers to rent designer clothing and accessories online through subscriptions or on a one-time basis. Rent the Runway 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, its valuation went down as it struggled to maintain operations during the COVID-19 pandemic. Eventually, it closed all its brick-and-mortar stores.

In August, 2021 the company reported to CNBC that it doesn't plan to reopen its stores and will instead focus on digital services and expanding drop-off sites. CEO and founder Jennifer Hyman has voiced optimism over operations into 2021.

Note: all dollar amounts on this page are in US dollars unless otherwise stated.

Finder's top picks on where to buy Rent the Runway IPO

How to buy shares in Rent the Runway

Before you can invest in Rent the Runway, you'll need to open a brokerage account.

  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: RENT. 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.

Will I be able to buy Rent the Runway stocks from Canada?

You won't be able to buy Rent the Runway stocks on a Canadian stock exchange like the TSX or CSE. Instead, you'll need a Canadian broker that provides access to stocks sold on international exchanges. However, some Canadian brokerages don't offer access to international investments at all or only provide access to a limited range of investment opportunities.

You can access US exchanges like the NYSE and the NASDAQ using Canadian trading platforms like Questrade, Wealthsimple, Scotia iTRADE and Interactive Brokers. Interactive Brokers also provides access to many stock exchanges outside North America like the Hong Kong Stock Exchange (SEHK), Korea Stock Exchange (KSE), National Stock Exchange of India (NSE), Frankfurt Stock Exchange (FWB) and London Stock Exchange (LSE).

The process of buying stocks listed on international exchanges is basically the same as buying stocks in a Canadian company. You buy and sell using your online trading account or through an investment broker who handles international stocks.

How to buy international stocks in Canada

Tax implications of buying US stocks in Canada

Agreements between Canada and the US require Canadians holding US stock investments to pay the US Internal Revenue Service (IRS) a 15% withholding tax on any dividends earned on their US stocks. Interest earned from bonds or other interest-yielding US investments are similarly taxed at a rate of 10%.

An exception is made for stock investments held in trust exclusively designed to provide retirement income. Such trusts include RRIFs, LIRAs, LIFs, LRIFs and Prescribed RRIFs. RRSPs are also exempt from US withholding tax if you own US investments in the form of US stocks, bonds or ETFs.

Investment accounts that do not qualify for this exemption include RESPs, TFSAs and RDSPs.

All income from investments, including foreign investments, must be declared as part of your income on your Canadian tax return. Unless your US earnings are exempt from withholding tax, this means you'll be double taxed on those earnings — first by the IRS, then by the CRA. However, the CRA may allow you to claim foreign tax credits for any taxes you've already paid to the IRS.

Speak with a tax professional to find out what rules and exceptions apply to your circumstances.

Compare online stock trading platforms

Note: The dollar amounts in the table below are in Canadian dollars.

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Get 2 free stocks (total value up to $9,000) when you deposit and trade $150.
Pay no commissions when you trade Canadian stocks and ETFs with Wealthsimple Trade.
Interactive Brokers
Finder Rating:
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4.1 / 5
Min. $1.00, Max. 0.5%
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Stocks, Bonds, Options, ETFs, Currencies, Futures
Extensive trading capabilities and global investment tracking.
Access market data 24 hours a day, six days a week and invest in global stocks, options, futures, currencies, bonds and funds from one single account.
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CIBC Investor's Edge
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Get up to $2,000 cash back. Conditions apply. Offer ends March 1, 2022.
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Get a $50 bonus when you open a new RRSP, TFSA or RESP and start pre-authorized contributions of at least $200/month. Valid until March 1, 2022.
Qtrade Direct Investing offers low trading commissions and an easy-to-use platform with access to powerful tools and a wide selection of investment options. Trade 100 ETFs free of charge and thousands more for $8.75 or lower.
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Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

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