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Why ThredUp Stock Soared Today

TheMotleyFool

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Why ThredUp Stock Soared Today: https://g.foolcdn.com/editorial/images/703581/online-clothes-shopping-e-commerce.jpg

Shares of ThredUp (NASDAQ: TDUP), the online clothing resale site, were taking off today on news that rival Poshmark (NASDAQ: POSH) was getting acquired. Investors took that as a sign that a prospective buyer could appear for ThredUp.

As of 1:42 p.m. ET, ThredUp stock was up 18%, outperforming even Poshmark's 13.3% gain.

Poshmark, a larger online secondhand clothing site, said last night that it would be acquired by South Korea's Naver, the country's largest internet company and e-commerce platform, for $17.90 in cash, or $1.4 billion.

Source Fool.com

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