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Today’s Research Reports on Stocks to Watch: HyreCar and The Lovesac

NEW YORK, NY / ACCESSWIRE / June 28, 2018 / Both HyreCar and Lovesac Company made their grand debuts on the stock market on Wednesday with both stocks sailing higher in their first day of trading and trading higher than their IPO prices.

RDI Initiates Coverage on:

HyreCar Inc.

The Lovesac Company

HyreCar Inc. shares closed up 2% on Wednesday with a little over 2 million shares traded. The peer-to-peer ridesharing platform made its debut in the stock market yesterday. The company priced its initial public offering of 2,520,000 shares of its common stock to the public at $5.00 a share. Shares opened 11% higher than the IPO price on Wednesday. The company operates in 34 states as well as Washington, D.C. According to the company's website, the company's mission is to build roads to financial freedom - one driver, one vehicle, one road at a time. The peer-to-peer platform was created to leverage technology and establish a presence in automotive asset sharing. Drivers and vehicle owners alike can utilize the platform to create an opportunity for themselves where one did not previously exist.

Access RDI’s HyreCar Inc. Research Report at:

The Lovesac Company shares closed up nearly 50% on Wednesday with a little over 2 million shares traded. The stock made its debut in the market and traded up over 34% than its initial public offering price. Lovesac CEO Shawn Nelson stated, "There aren't a lot of direct-to-consumer companies out to dominate a category on the public markets yet. There are plenty of them still private and lots of unicorns. But Lovesac is one of the first." He also said, "It's a great time in the economy but more importantly as financial markets go ... the valuations and the way that companies are being valued and looked at through that lens is not always as favorable to businesses like ours as the public market were. What the public investors value is very much in line with what we do." Lovesac is an American furniture retailer, specializing in a patented modular furniture system called Sactionals. Nelson explained, "We are neither an e-commerce true play or a retail company at all."

Access RDI’s The Lovesac Company Research Report at:

Our Actionable Research on HyreCar Inc. (NASDAQ: HYRE) and The Lovesac Company (NASDAQ: LOVE) can be downloaded free of charge at Research Driven Investing.

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SOURCE: RDInvesting.com