Fashion is notoriously fickle, and that seems to be the case for online used-clothing marketplace Poshmark, too, as the company is delaying its planned initial public offering until next year.
Fashion companies have been busy for the past year or so, with Revolve (NYSE: RVLV), The RealReal (NASDAQ: REAL), and Levi Strauss (NYSE: LEVI) all going public in 2019. Wrangler jeans parent Kontoor Brands (NYSE: KTB) was spun off from VF Corp, Farfetch (NYSE: FTCH) hit the markets last year, and Stitch Fix (NASDAQ: SFIX) came in late 2017. But the fun began to quickly unravel this summer as the stocks of the fashion-world darlings turned cold. As the chart below shows, investors have been pulling on the thread for most of these companies, and several trade well below their debut price on the market.
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