Poshmark seller Tiffany Wood now has a $12,000 nest egg because she bought stock in the company's initial public offering.In a leaked email to Insider, Wood shared details of how Poshmark allowed her to buy into the IPO. Tiffany Wood, 30, has been a Poshmark seller since December, 2015, spending an average of about 30 minutes a day on the site.
Wood told Insider she purchased 149 shares at $42 a share, the initial share price. Poshmark opened at $96.50 Thursday, meaning her stock was up an exciting $14,378 on the first day. She didn't sell immediately and by market's close on Friday, shares were trading at $83.20. Her stake is still worth $12,397 with a healthy profit of $6,139. And she's thrilled.In a leaked email to Insider, Wood shared details of how Poshmark allowed her to buy into the IPO.
The email also instructed participants to open a Fidelity investment account to administer the stock sell. ambassadors as users who make at least 15 sales, have at least 50 available listings in their closet, and have an average rating of at least 4.5 stars. In total, Poshmark reserved 330,000 class A shares in the IPO for these super users at the initial public offering price, according to the S1 filing.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.