in

Casper is about to go public. It's not looking good – CNN, CNN

Casper is about to go public. It's not looking good – CNN, CNN

New York (CNN Business) Casper has priced its initial public offering at $ per share. That was the low end of its already drastically reduced target price.

The mattress-in-a-box company’s stock will begin trading Thursday on the New York Stock Exchange under the ticker symbol “CSPR.”

Investors are already giving the company an icy reception. Casper revealed the pricing late Wednesday after announcing in an earlier

regulatory filing that it had cut its IPO target share price to $ (to $) from $ to $ .

Casper’s IPO woes show investors are growing hesitant in. supporting companies that don’t have a clear direction toward profitability.

% compared to the year prior.

    The company got its start in April

      after raising almost $ 2 million from venture capital firms and angel investors. Casper captured consumers’ attention first with its mattress that fit into a cardboard box the size of a mini fridge and has since expanded to a portfolio of products including dog beds. It attracted several high-profile investors including rapper Nas and actor Ashton Kutcher.

      But the market has grown saturated, with dozens of competitors entering the mattress shipping space. That’s why Casper is trying to rebrand itself as a sleep and wellness company. So far, investors aren’t buying it.


        (Read More

    What do you think?

    Leave a Reply

    Your email address will not be published.

    GIPHY App Key not set. Please check settings

    High-speed train derails in Italy, two railworkers dead – New York Post, Nypost.com

    High-speed train derails in Italy, two railworkers dead – New York Post, Nypost.com

    DHS bans New Yorkers from Global Entry and other programs over state law allowing undocumented immigrants to get driver's licenses – CNN, CNN

    DHS bans New Yorkers from Global Entry and other programs over state law allowing undocumented immigrants to get driver's licenses – CNN, CNN