HOUR - Hour Loop stock rallies 29% but is still down 34% from IPO price

Hour Loop (NASDAQ:HOUR) stock rallied 29% on Wednesday but is still down 34% from its initial public offering price of $4 per share. Shares of the e-commerce platform provider closed at $2.63, up 29% from the prior session. The stock opened at $2.10 and hit a session low of $2.02 in the morning before rallying to reach a session high of $3.75 in mid-afternoon. Hour Loop held its initial public offering on Jan. 7, raising approximately $6M. The company offered 1.5M shares priced at $4 per share, with shares opening at $4.50 and soaring 100% to close at $7.99. The stock hit an all-time high of $10.33 on Jan. 7, then trended downward to hit a 52-week low of $1.88 on Feb. 24. Shares rose again at the beginning of March only to tumble again on March 3. Hour Loop specializes in gift items such as figures, cookware and toys. The

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Hour Loop stock rallies 29% but is still down 34% from IPO price