The stock had initially popped 5% on the news as it was clear Casper benefited from consumers upgrading their homes during COVID-19.
Co-founder and CEO Philip Krim told Yahoo Finance’s The First Trade he isn’t too sure why the stock is down on the news.
And so we think we are marching our way into profitability very quickly and are well-positioned to be a very dynamic company in the consumer backdrop,” Krim explained.
All in all, Casper may have some convincing to do on Wall Street following a tough IPO back in February.
The stock opened for trading on Feb. 6 at $14.50 a share and closed the session around $13.50 — or a valuation of about $500 million.
The company’s current market cap is roughly $360 million as investors wait to see if Casper could deliver on its 2021 profit goal.
- Casper Sleep Posts Narrower-Than-Expected LossTheStreet
- Casper Sleep's reawakening highlights strength of city's startupsCrain's New York Business
- Casper Sleep's stock jumps after narrower-than-expected loss, revenue rises above forecastMarketWatch
- Stocks making the biggest moves premarket: Casper Sleep, Canada Goose, BioNTech, Uber, Lyft & moreCNBC
- Casper Scares Off Investors as Suppliers Can't Keep Up With DemandInvesting.com
- Casper Sleep -6% after earnings, supply chain warningSeeking Alpha
- NYSE:CSP Investor Notice: Deadline on August 18, 2020 in Lawsuit Against Casper Sleep Inc.Digital Journal
