Rafael Henrique | LightRocket | Getty Images
Shares Poshmark and ThredUp, two leaders in the secondhand retail space, tumbled Wednesday in extended trading, as widening losses overshadowed strong sales growth in a hot category — especially among Gen Z.
Poshmark’s stock was falling more than 11%, and ThredUp shares were recently down about 8%.
The stock drop marred ThredUp’s first quarterly report as a public company. It debuted in March, while Poshmark shares have been public since mid-January.
ThredUp shares as of Wednesday had risen more than 42% since its IPO, bringing the company’s market cap to $1.9 billion. Poshmark shares have fallen more than 55% since it went public, giving it a…