Rent the Runway: There's Salvage Value Here

Well, it's pretty safe to say that the small-cap IPO hype is over. A tremendous number of companies cashed in on investors euphoria amid the pandemic, but now, with interest rates persistently high and a tough macro climate on the horizon, investors have shifted back into safety mode. Against this backdrop, Rent the Runway (NASDAQ:RENT) has shed hundreds of millions of market value. But year to date, the stock has already tripled, driven in no small part by the recent resurgence of "meme" stocks. But while ...