Oddity Shares Jump 40% in Stock Market Debut
Investors scoop up buzzy IPO of direct-to-consumer beauty and tech company
Investors scoop up buzzy IPO of direct-to-consumer beauty and tech company
Investors rushed to buy shares of Oddity Tech ODD 2.99%increase; green up pointing triangle on Wednesday, sending stock in the direct-to-consumer beauty company up about 40% in its initial trading.
Oddity’s stock opened at $49.10 a share Wednesday afternoon, up from its IPO price of $35, when it started trading on Nasdaq under the symbol ODD. That gives the company a market capitalization of roughly $2.8 billion.
The pop, coming after the company priced its shares above expectations late Tuesday, bodes well for a depressed IPO market that has plodded ahead in fits and starts the past year and a half.
Oddity’s successful debut follows those of Mediterranean-style restaurant chain Cava Group as well as discount retailer Savers Value Village.
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