Casper Sleep’s stock is 18% below IPO price as it trades below $10
Casper Sleep Inc. CSPR, -2.00% 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 IPO, +1.
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