Rent the Runway makes it work

Rent the Runway Rent the Runway jumped as much as 141% today after management projected the company to hit breakeven free cash flow in 2024 in yesterday's earnings call.

While investors are excited about the prospect of the business turning profitable, the fashion company still has a long way to go to reach its IPO heights.

Rent the Runway went public in October 2021 at a $1B+ valuation during the IPO frenzy, but even after today's move, the stock is still down 95%.

Rent the Runway stock jumps on optimistic 2024 outlook

Rent the Runway went public in October 2021 at a $1B+ valuation during the IPO frenzy, but even after today's move, the stock is still down 95%.

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SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

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