Lulu's Fashion Lounge Holdings Inc. (LVLU) is a customer-driven, digitally native women's fashion brand. The shares of the Chico, Calif.-based company declined 18% on its stock market debut on Nov. 11, 2021, after the company raised $92 million in an initial public offering priced at the low end of the marketed range. The stock has declined 38.5% in price since hitting its 52-week high on Nov. 19, 2021, and 20.8% over the past month and is currently hovering near its all-time low of $8.77.
However, LVLU's Chief Executive Officer David McCreight said, "the low-end pricing of the IPO and first-day drop won't affect the company's plan to pay down debt."
