Revolve Group extends first day gains after Citron predicts $50 share price

Shares of Revolve Group, which began trading this morning after its initial public offering priced at $18.00, moved higher after Andrew Left’s Citron Research predicted the shares are going to $50. The clothes retailer is up $10.69 to $28.69 in midday trading. Citron, best known for it short positions, said via Twitter, “Citron has never commented on an IPO but LONG $RVLV. Profitable at IPO AND growing E-commerce with best unit economics and massive growth ahead. Citron expects to see the stock trade to $50.”