Why Stitch Fix Stock Jumped to an All-Time High Today
Shares of Stitch Fix (NASDAQ: SFIX) were climbing today, gaining by double digits for the second time this week, even though there was no major news about the company. There was, however, two items that seemed to help propel the gain.
First, Poshmark (NASDAQ: POSH), the online apparel reseller, surged in its debut today, jumping 142%. Separately, Stitch Fix announced the first recipients of its new grant and membership program, Elevate, that it announced in October.
That news, along with a potential short squeeze, helped drive the stock up 13.8%.
Source Fool.com
