By  on November 17, 2017

Stitch Fix Inc. — which has a business model that helps it avoid price promotions by individually appealing to shoppers — had to take a price cut on its own stock.

The buzzy company priced it shares at $15 each in its initial public offering, below the $18 to $20 it had projected. But once the stock hit the open market, investors gave the company a boost, trading its shares up as much as 23.5 percent to $18.53. After almost an hour of trading on the Nasdaq, the stock was up 14.3 percent to $17.19.

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