(C) Reuters. Down 60% Since Going Public, is Poshmark a Buy?
Poshmark (POSH), a fashion social marketplace, is down almost 60% since its offering. The company is well known for its new and used apparel, but is it worth buying on this massive dip? Patrick Ryan provides his analysis on the company and whether its a solid stock.Poshmark (POSH) was trading at more than $100 per share in mid-January. The stock declined to $70 by late January. Though POSH popped to $78 in mid-February, it slid right back down to $57 later that month. POSH has been on the decline ever since, dropping all the way below $40 as of mid-April.
Conduct an online search for POSH, and you will find the company was founded in 2011, and its CEO, Manish Chandra, has been at the helm across the ensuing decade. However, your online search might also turn up a Google (NASDAQ:GOOGL) review rating of 2.3 stars out of 5 for the company. This rating is based on 170 Google reviews. This negative feedback combined with POSH’s declining stock price isn’t exactly good news for POSH shareholders.
Will POSH bounce back from its 60% drop after going public? Let’s find out.
Down 60% Since Going Public, is Poshmark a Buy?
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