Revolve Group LLC (NYSE:RVLV), the millennial, influencer-driven fashion brand, continues to flourish in its first full day of trading.
After pricing its initial public offering at $18 on Thursday night, the Los Angeles retailer debuted to the public at $26.75 on Friday. The stock's value has more than doubled since Thursday.
Revolve's stock rocketed as high as $44.47 Monday morning but settled up nearly 4% at $35.33 in the afternoon.
Andrew Left, the infamous short-seller behind Citron Research, likes what he sees. When the company opened trading, the firm tweeted that investors should expect massive growth.
Citron has never commented on an IPO but LONG $RVLV. Profitable at IPO AND growing E-commerce with best unit economics and massive growth ahead. Citron expects to see the stock trade to $50. $mywifeisalwaysright— Citron Research (@CitronResearch) June 7, 2019
In a report put out on Monday, Citron praised the company's network of investors and brand partners. In what the firm termed "FashTech," Revolve uses social media and tech to disrupt the fashion industry.
According to the report, Revolve spends about $100 to bring in customers and earns about $300 after they've been acquired.
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