So Reformation the fashion company just went public and I'm going to read over some of the news from today.

So Reformation the fashion company just went public and I'm going to read over some of the news from today. So Reformation is a clothing brand founded in Los Angeles in 2009 known for stylish eco-friendly dresses and sustainable supply chain. On July 30th they went public on the New York Stock Exchange meaning anyone can purchase the stock with the ticker REF. Share priced at about $15 a share and the range was $15 to $17 for launch given the company total value of about $886 million. Wow. They raised roughly $211 million from the sale with a money split between the company and some early investors cashing out. This is before it went public and the IPO was led by JP Morgan and Morgan Stanley. The stock opened flat trading about 15 instead of jumping as some investors were cautious rather than excited on day one. Permira, a private equity firm that has owned Reformation since 2019 now holds about 49% and keeps significant influence over the company. I think this is interesting to me because you rarely have like fashion companies go public you know what I mean in recent years. I think the most popular fashion stocks we have is like Ralph Lauren, Nike, Lululemon. And it's you know it's hard for younger people to pick stocks that we see a longevity and a growth and a potential right like after it hits the market to be public to invest in. I think when you get in early with companies you want to see potential and growth and change or at least you know pouring gasoline on the fire that made it be able to go public. And so I think with like stocks like Nike and like legacy brands like that it's hard for us to see where it's going to go beyond where it is unless there's a huge turnaround or like some type of merger right. So I think there's like a lot of potential in newer companies going public that we could see the potential of. I mean you know in recent years it's mostly been tech stocks or AI or defense right that the founders are very young, we're able to see a long-term potential but I think with this this recent news there's like some hope for the luxury and retail market that hey we're seeing newer companies come in that have innovation, they're run by you know a more innovative like staff and I think now this presents an opportunity for people that are you know tapped into fashion and luxury and branding to be able to make a bet on newer companies especially in the public market because a lot of these brands we love and care about are privately held or they're held you know by private equity that doesn't have the access to public capital. So this gives us an opportunity collectively to be able to kind of bet on a horse so to speak about where the future of retail and fashion is going and it's very rare we have that opportunity outside of tech. So I'm really excited about this. This is like one good news and hopefully I think we'll see a resurgence of newer fashion luxury type of brands become public and allow us the ability to invest in them.