Casper sees a surge of more than 30% in its stock

Casper sees a surge of more than 30% in its stock

Casper which is an online mattress maker has close over 12% up on this Thursday on the first day of their trade.

After the IPO, Casper has shares which opened at a level of $14.50. There has been a surge in the stock of over 30% in the trading on the stock exchange of New York under this symbol of CSPR to reach a high level of $15.84. After it had given up on a few of those gains, the shares of Casper had closed at a level of $12-$13 a share.

This retailer has seen a valuation of close to $575 million on the basis of where the shares had opened this Thursday. However at a point in the private business, Casper had seen a valuation at $1.1 billion and given it a unicorn status.

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Casper has been facing a lot of scrutiny when it comes to it going public when it has been trying to go public and the reason for this is the higher levels of profitability to the higher costs it is going through for the acquiring of new customers and also keeping them.

The market of mattress in the United States has also been showing a lot of signs of slowing down as per the analysts. And the IPO of Casper has come in the wake of the problems which WeWork had gone through in the year 2019 and had put a big dark cloud on the market of Startups

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The debut of Casper is one more sign that it is disastrous for any company which is not in profit to be going in for an IPO. The CEO though says he is not too concerned.

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