winc

winc

Unlike its grapes, Winc didn’t exactly crush its latest earnings report.

The wine subscription company revealed on Wednesday that its total revenues rose by 3.4% to $18.5 million during its third quarter, but the money it makes from direct-to-consumer sales took a hit, slipping 13% to $12.7 million from the same period last year.

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Photo by Kelsey Knight on Unsplash

Pour one out for Winc.

The wine subscription company behind Summer Water and Wonderful Wine Co started trading on the New York Stock Exchange on Thursday and received a tepid welcome from investors. The stock debuted at $13 per share and climbed to a high of $14.20 before closing at $12.27, down by about 5%.

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Photo%20by%20Klara%20Kulikova%20on%20Unsplash

Santa Monica-based wineseller Winc has postponed its expected debut on the New York Stock Exchange.

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