Casper Sleep Stock Has a Lot to Prove This Week
It's time to see what side of the bed Casper Sleep (NYSE: CSPR) woke up on for its latest quarter. The direct-to-consumer seller of mattresses, pillows, beddings, and other home essentials reports fresh financials after Monday's market close, and there's a lot riding on the report.
Casper Sleep has been a profitless disappointment since going public at $12 a share last year. The stock has plummeted more than 70%, becoming a cautionary note in the bedding industry. When Truist analyst Keith Hughes downgraded shares of Casper rival Purple Innovation (NASDAQ: PRPL) last week, he pointed out that Purple's falling behind the competition may have some viewing it as the next Casper. That's not a compliment.
Expectations are low, and the upside is substantial for a stock that would have to more than triple just to get back to its debut price point. Is this a stock worth buying ahead of its upcoming financial update? You don't exactly have time to sleep on it, with the earnings report now just hours away. Let's size up Casper Sleep's current prospects and the long road back it faces.
Source Fool.com
