WeShop (WSHP) stock rocketed higher on Monday after the e-commerce company announced its launch on the Nasdaq Capital Market under the WSHP ticker. The company used a direct listing to go public instead of an initial public offering. Kirkland & Ellis LLP acted as its legal counsel, Harney Westwood & Riegels acted as its British Virgin Islands counsel, and ThinkEquity served as an advisor for the direct listing.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
WeShop noted that it intends to launch its e-commerce app, which operates under the same name as the company, in the U.S. soon. The company already operates in the UK and has partnered with several major retailers, including John Lewis, eBay (EBAY), Selfridges, ASOS, Expedia (EXPE), British Airways, PDD’s (PDD) TEMU, Shein (SHEIN), and others.
John Garner, founder of WeShop, said, “Our direct listing marks a new chapter for WeShop and our community. We’re giving users real ownership in the platform they help build, making access to the public markets more open and inclusive.”
WeShop Stock Movement Today
WeShop stock was up 72.65% in pre-market trading on Monday. This movement isn’t too surprising, as stocks typically see major gains or losses when they make their public debut. Investors will also keep in mind that this volatility can continue over several days. While WSHP stock is up today, the stock could come crashing back down once the hype around its direct listing dies down.