Why ThredUp Stock Soared Today

Why ThredUp Stock Soared Today

Shares of ThredUp (NASDAQ: TDUP), the online clothing resale site, were taking off today on news that rival Poshmark (NASDAQ: POSH) was getting acquired. Investors took that as a sign that a prospective buyer could appear for ThredUp. As of 1:42 p.m. ET, ThredUp stock was up 18%, outperforming even Poshmark's 13.3% gain.