10.10 +0.04 (0.40%)
After hours: 5:03PM EST
|Bid||9.99 x 1100|
|Ask||10.00 x 800|
|Day's Range||9.99 - 10.20|
|52 Week Range||9.72 - 15.85|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Casper Sleep Inc. shares shed early gains to trade flat at midday, and remained 17% below their initial public offering price from last week. The loss-making former unicorn went public last Wednesday but the stock has languished in the past several sessions. The Renaissance IPO ETF was down 0.3% but has gained 22% in the last 12 months, while the S&P 500 has gained 23%.
Casper Sleep Inc. saw its stock fall another 1.9% Tuesday to below $10, pushing it 18% below its initial public offering price of $12. The New York-based mattress and sleep accessories company went public last week and gained about 20% on its first day of trade after scaling back the price range hours before pricing. It has languished ever since in a sign that investors are still not fully embracing IPOs from loss-making former unicorns. The Renaissance IPO ETF was up 1% Tuesday and have gained 24% in the last 12 months, matching the S&P 500's gains.
Casper Sleep Inc. shares slid again Monday on their third day of trading, falling more than 5% to $10.46, below the company's $12 initial public offering issue price. The company completed its IPO on Wednesday hours after slashing its price range, and gained more than 20% on its first day of trade on Thursday. But on Friday, it was unable to hold those gains and closed down 18%. Investors have been pushing back against loss-making former unicorns like Uber , Lyft and WeWork, the office sharing company that saw its IPO collapse after its prospectus revealed shaky underlying financials. Casper has never made a profit, despite heavy spending on marketing, and is operating in a highly competitive market.
NEW YORK, NY / ACCESSWIRE / February 10, 2020 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Casper Sleep Inc. ("Casper" or the Company") ...
Casper was a unicorn to private investors. To the public markets, it is only about a third of one. Casper Sleep Inc., a self-described “pioneer of the Sleep Economy,” started trading last week on the New York Stock Exchange.
Shares of online mattress company rallied in their debut on the New York Stock Exchange on Thursday, but only because the company slashed its expected price range at the last minute. “It’s all about going public today,” he said.
Casper raised $100 million in VC funds last February at a valuation of $1.1 billion, even though it had yet to turn a profit. Its stock finished the week down 8% from its IPO price.
(Bloomberg) -- Bed-in-a-box seller Casper Sleep Inc., already worth less than half the valuation it reached as a private company, sunk below its initial public offering price on its second day of trading.Casper shares fell 18% Friday to $11.05 in New York trading, below the $12 offer price in its IPO this week. The New York-based company ended the week with a market valuation of $438 million after being being valued at $1.1 billion in a private funding round last year.Friday’s decline shows investors have grown skeptical of money-losing unicorns -- startups whose private valuations reached $1 billion or more. The listing followed landmark but largely disappointing performances last year by consumer-oriented companies including Uber Technologies Inc. and its smaller rival Lyft Inc., as well as SmileDirectClub Inc. and Peloton Interactive Inc.In contrast, PPD Inc., a biotechnology and drug-research services firm that raised $1.62 billion and debuted on Thursday with Casper, priced its shares at the top of its target for the offering and has climbed 15% since its IPO.Casper, founded in 2014, became one of the leading brands in its niche thanks to its pioneering status and savvy marketing. Since then, a slew of competitors have emerged in the U.S. and abroad. From 2016 to September 2019, Casper spent $422.8 million on marketing, according to an earlier filing.Casper had 60 stores in the U.S. and Canada as of September. Its sales increased to $312 million for the nine months ended Sept. 30, a 20% gain from the same period in 2018. Its net loss widened to $67 million from $64 million during the same period in 2018.The company’s backers include Target Corp. and Dani Reiss, the chief executive officer of Canada Goose Holdings Inc.To contact the reporter on this story: Michael Hytha in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Liana Baker at email@example.com, Michael Hytha, Sally BakewellFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Casper Sleep Inc. shares fell 18% Friday on their second day of trading as a public company, pushing the stock below its initial public offering issue price of $12. The stock closed at $11.05. Casper shares rallied more than 20% on Thursday after underwriters priced the deal at the low end of a price range that had been lowered just hours before pricing. The company sold 8.4 million shares to raise $101 million. With 39 million shares outstanding, the $12 pricing valued the company at $468 million, below the $741 million implied by the previous price range and well below the $1.1 billion it garnered in its last private funding round last March. Investors had expressed concern that the company is loss-making, with its IPO prospectus showing a net loss of $67.4 million in the first nine months of 2019, wider than the $65.5 million loss posted in the year-earlier period. For all of 2018, its net loss came to $93.2 million, compared with $73.1 million in 2017.
Mattress and sleep accessories company started trading on the NYSE Thursday, and had to convince investors it’s not just another Uber, Lyft or gulp, WeWork.
Casper Sleep Inc., the company credited with popularizing the bed-in-a-box trend, lowered the price range for its planned initial public offering on Wednesday, in a sign that investors are pushing back against the loss-making company.
Shares in Casper, the mattress company, fell below their listing price on the second day of trading, a poor marker for initial public offerings after a series of disappointing deals last year. The stock fell 18.2 per cent to $11.05 on Friday, a day after its IPO priced the company at $12 a share. Friday’s dip erased the 12.5 per cent gain the stock achieved on Thursday.
(Bloomberg) -- Bed-in-a-box seller Casper Sleep Inc. rose in its trading debut, but still ended the day worth less than half the valuation it reached as a private company.Shares of Casper closed up 13% Thursday at $13.50 apiece in New York, giving the company a market value of $535 million. The online mattress retailer was last valued at $1.1 billion in a private funding round last year.Casper sold 8.35 million shares Wednesday for $12 each. This came after it cut its price target significantly from an initial range of $17 to $19.“We’re seeing consumers come back very frequently to buy from Casper,” Chief Executive Officer Phillip Krim said in a Bloomberg TV interview. “That will continue to accelerate as we bring more products to market.”The IPO shows investors have grown skeptical of money-losing unicorns -- startups whose private valuations reached $1 billion or more. The listing follows landmark but largely disappointing performances last year by consumer-oriented companies including Uber Technologies Inc. and its smaller rival Lyft Inc., as well as SmileDirectClub Inc. and Peloton Interactive Inc.Casper priced its IPO on the same day as PPD Inc., a biotechnology and drug-research services firm that raised $1.62 billion, pricing its shares at the top of its target for the offering. PPD closed up 12% on Thursday. In the past year, such business-to-business firms, especially software makers, have tended to fare better in their IPOs than consumer-focused companies.New York-based Casper, founded in 2014, became one of the leading brands in its niche thanks to its pioneering status and savvy marketing. Since then, a slew of competitors have emerged in the U.S. and abroad. From 2016 to September 2019, Casper spent $422.8 million on marketing, according to an earlier filing.Casper had 60 stores in the U.S. and Canada as of Sept. 30. Its sales increased to $312 million for the nine months ended Sept. 30, a 20% gain from the same period in 2018. Its net loss widened to $67 million from $64 million during the same period in 2018.The company’s backers include Target Corp. and Dani Reiss, the chief executive officer of Canada Goose Holdings Inc.The offering was led by Morgan Stanley, Goldman Sachs Group Inc. and Jefferies Financial Group Inc. The company’s shares are trading on the New York Stock Exchange under the symbol CSPR.(Updates valuation from first paragraph.)\--With assistance from Matt Townsend.To contact the reporter on this story: Liana Baker in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Elizabeth Fournier at email@example.com, Michael HythaFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Peloton Interactive, Inc. shares fell on quarterly results, but the company's guidance for faster revenue and much narrower full-year losses than expected should provide strong support in coming weeks. That's according to IPO Edge Editor-in-Chief John Jannarone, who spoke to Cheddar TV late Wednesday as the numbers came across the tape. Two issues may have […]
Casper Sleep Inc. shares rose 20% in their trading debut Thursday, after underwriters priced the company's initial public offering at the low end of the range. The stock was last up about $3, or 25%. The New York-based company reduced its price range on Wednesday, just hours ahead of pricing, in a move that seemed to signal pushback from investors, who have been leery of loss-making companies that were highly valued in private markets. Casper sold 8.4 million shares to raise $101 million, at a valuation of just $468 million, well below the $741 million implied by its previous price range and the $1.1 billion garnered in its last private funding round.
The positive market debut followed large valuation cut from banks working on the deal in recent days, which indicated cautious investors were willing to buy at lower levels on public markets. The company, which trades under the ticker CSPR, slashed its valuation to $476m when the listing was priced on Wednesday, far below the $1.1bn valuation it secured in a funding round last year. The deal is the latest test of investor appetite for venture capital backed-companies after a year when several high-profile groups, including office space company WeWork, struggled to secure stock market support despite private market valuations of $1bn or more.
Casper Sleep Inc. ("Casper" or the "company") today announced the pricing of its initial public offering of 8,350,000 shares of its common stock at a price of $12.00 per share. Casper has granted the underwriters a 30-day option to purchase up to an additional 1,252,500 shares of its common stock at the initial public offering price to cover over-allotments. The shares are expected to begin trading on the New York Stock Exchange on February 6, 2020 under the ticker symbol "CSPR," and the offering is expected to close on February 10, 2020, subject to customary closing conditions.
Casper Sleep Inc. late Wednesday priced its initial public offering at $12, according to The Wall Street Journal. That's the lower end of dimmed price expectations, raising $101 million. The mattress maker, one of the pioneers of the bed-in-a-box trend, earlier Wednesday had cut the IPO's price range to between $12 and $13, from a previous expectation of between $17 and $19. The $12 values the company at about $468 million, below the $741 million implied by the previous price range and less than half the $1.1 billion it garnered in its last private funding round. Casper is expected to trade on the New York Stock Exchange under the symbol CSPR.
Casper Sleep Inc. lowered the price range for its planned initial public offering on Wednesday to $12 to $13 a share from a previous $17 to $19, a move that reduces its valuation to just over $500 million. The company is planning to offer 8.4 million shares to raise $109.2 million at the top of the range. With 39 million shares outstanding expected once the IPO is complete, the company would have a valuation of just $507 million, below the $741 million it would have had under the previous price range and now less than half the $1.1 billion it garnered in its last private funding round. Eight banks are underwriting the deal, led by Morgan Stanley, Goldman Sachs and Jefferies. Proceeds of the deal are earmarked for growth and general corporate purposes. The company will list on the New York Stock Exchange, under the ticker symbol "CSPR."