S&P 500 Archives - ºÚÁÏ³Ô¹Ï News /tag/sp-500/ Data-driven reporting on private markets, startups, founders, and investors Fri, 07 Feb 2020 21:29:05 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.9 /wp-content/uploads/cb_news_favicon-150x150.png S&P 500 Archives - ºÚÁÏ³Ô¹Ï News /tag/sp-500/ 32 32 Casper Stock Falls Below IPO Price On Second Day Of Trading /public/casper-stock-falls-below-ipo-price-on-second-day-of-trading/ Fri, 07 Feb 2020 21:25:18 +0000 http://news.crunchbase.com/?p=25198 Sleep’s stock price closed at $11.31 on its second day of trading on the public markets, falling 16 percent below its previous close and below its IPO price.

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The company’s stock opened at $14.50 on Thursday, its first day of trading, and closed at $13.50. Its stock opened at $13.97 Friday morning before dropping to $11.31 by the close of markets.

It hasn’t been the smoothest transition from private to public for the mattress startup. Casper initially set a price range of between $17 and $19, dropping the company’s valuation to about $786 million–quite a bit below the $1.1 billion valuation Casper last had as a private company after it raised its $100 million Series D in March 2019.

Earlier this week, Casper lowered the price range to between $12 and $13, further sinking the valuation. It eventually priced its shares at $12 apiece, at the bottom of the range, and was then valued at $475.5 million ($490.6 million if underwriters exercise their options).

The company’s stock did pop on its first day of trading, but didn’t perform as well on Friday, when stocks across the , , and were down.

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