Stitch Fix spikes more than 17% after IPOing

Facebook/Stitch Fix

• Stitch Fix began trading under the ticker “SFIX” on Friday.
• The company priced its shares at $US15 apiece, and is now trading up 16.4% at $US17.46.
• Stitch Fix is a personalised fashion service that sends a box of clothing picked for the customer by a personal stylist. Customers can order a box on demand, or on a fixed schedule.
• It has been profitable in each of the last two years and expects to bring in $US1 billion in revenue in 2017.
• The service boasts 2.2 million active clients.

Read more about the company’s IPO here.

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