Reformation Stock Closes Slightly Above IPO Price in Lackluster Market Debut
Shares of Reformation Inc. closed at $15.08 on their first day of trading, just above the initial public offering (IPO) price of $15 per share. The company raised $210.9 million by issuing 14.1 million shares priced at the low end of its projected range. Despite a modest gain, the stock's muted performance reflects broader investor caution toward new listings in 2026, with nearly half trading below their IPO price. Reformation’s underwhelming debut contrasts with other recent IPOs like Jersey Mike's Subs (JMKE), which closed down about 6% on its first day. The company has faced past controversies including allegations of racism and cultural appropriation but remains optimistic for future growth, according to CEO Hali Borenstein.
Topics: IPO Permira Reformation Inc. stock market debut