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Lulu's Fashion Lounge shares slide 18% in trading debut

·1 min read
Lulu's Fashion Lounge shares slide 18% in trading debut
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  • LVLU

Lulu's Fashion Lounge Holdings Inc. shares slid 18% in their trading debut Thursday, after the company's initial public offernig priced at $16, the low end of its proposed range of $16 to $19. The online fast-fashion retailer sold 5.75 million shares, raising $92 million. Shares started trading on the Nasdaq on Thursday under the symbol "LVLU." In its prospectus, the Chico, Calif.-based company said it has been profitable this year and that one of its strengths is the ability to use "data to opt