: StitchFix stock rallies as Bill Gurley hikes stake by a million shares

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StitchFix Inc. SFIX, -0.39% stock got a quick fix late Tuesday after Benchmark Capital’s Bill Gurley reported buying a million shares of the stock. StitchFix shares rallied 8% after hours, following a 0.4% decline in the regular session to close at $5.14. Gurley paid an average weighted price of $5.43 a share for StitchFix on Friday, according to a late Tuesday filing with the Securities and Exchange Commission. StitchFix has about 82.8 million shares outstanding, according to FactSet data. Before the purchase, Gurley already had a 1.22 million-share position in StitchFix for a 1.5% stake of outstanding shares, according to FactSet, so the new purchase would raise that to a 2.7% stake.

This article was originally published by Marketwatch.com. Read the original article here.

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