Why Stitch Fix Stock Soared Today
Shares of clothing e-commerce company Stitch Fix (NASDAQ: SFIX) soared on Tuesday after rival company Poshmark was acquired for $1.2 billion. As of 12:15 p.m. ET, Stitch Fix stock was up 15%. Poshmark has generated less than $350 million in trailing-12-month revenue, whereas Stitch Fix has generated over $2 billion.