RTTNews | Nov 22, 2021 10:36AM EST

10:35 Monday, November 22, 2021 (RTTNews.com) - Shares of Rent the Runway Inc. (RENT) are gaining over 11% on Monday morning despite no stock related news to drive the shares. RENT is currently trading at $18.09, up $1.89 or 11.67%, on the Nasdaq.

Rent The Runway had gone public last month and had priced its initial public offering of 17 million shares at $21.00 per share. The stock had debuted its trading at $19.61 per share, and has lost nearly 4% in the past one-month period.

Rent the Runway is an e-commerce platform that allows users to rent, subscribe, or buy designer apparel and accessories. Rent the Runway was founded in 2008 and is based in Brooklyn, New York. It has stores in New York, New York and Santa Monica, California.

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