Poshmark Soars 142% in Debut With Second-Hand Retail Gaining (2)

Poshmark Inc., the online marketplace for second-hand goods, rose 142% in its trading debut after raising $277 million in an initial public offering priced above the marketed range.

Shares closed at $101.50 in New York trading Thursday, valuing the Redwood City, California-based company at about $8.5 billion on a fully diluted basis including options and restricted stock units. The company sold 6.6 million shares for $42 each Wednesday, after marketing them for $35 to $39.

The Poshmark IPO follows that of Affirm Holdings Inc., the online consumer lender that almost doubled on its trading debut Wednesday after raising ...