Why Poshmark's Stock Is Trading Higher Today

Poshmark Inc POSH is trading higher Thursday after the company announced a partnership with Snap Inc SNAP.

What Happened: Poshmark announced a "first-of-its kind" partnership with Snap to launch Poshmark Mini: "a bite-sized social shopping experience of Poshmark that lives inside of Snapchat."

The product will connect the Poshmark and Snap communities, allowing users to explore products within the Snapchat app. The launch is expected to take place in the next few weeks.

“Community is at the heart of everything we do, and we’re focused on building the world’s largest and most accessible social shopping community where everyone is welcome and anyone can thrive,” said Steven Tristan Young, CMO of Poshmark. 

See Also: Why Snap Stock Is Trading Higher Today

Price Action: Poshmark traded as high as $104.98 and as low as $33.23 over a 52-week period. 

At last check Thursday, the stock was up 8.83% at $38.42.

Photo courtesy of Poshmark.