Hour Loop more than doubles in debut after IPO

Hour Loop

07/01/2022 17:10

** Shares of online retailer Hour Loop  HOUR.O  jump 130%
after co prices IPO
    ** HOUR opens at $4.50, trades as high as $9.20. Stock last
up 98.6% at $7.94 after multiple halts for volatility
    ** Redmond, Wash. firm sold 1.5 mln shares at $4, in line
with expectations  urn:newsml:reuters.com:*:nGNX9SSLRm
    ** For nine months ended in Sept, co reported revenues of
$31.4 mln and net income of $2.3 mln, per SEC filing https://www.sec.gov/Archives/edgar/data/1874875/000149315222000163/forms-1a.htm
    ** Nearly 19 mln shares have exchanged hands so far on the
session vs co's approx 33 mln shares outstanding prior to the
offering

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))