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Why Purple Innovation Stock Was Sinking Today

TheMotleyFool

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Shares of direct-to-consumer mattress maker Purple Innovation (NASDAQ: PRPL) were falling today after the company issued a disappointing second-quarter earnings report.

As of 2:26 p.m. ET, the stock was down 14.5%.

Revenue in the quarter fell 16.1% to $120.9 million, missing estimates at $131.8 million. Both wholesale and direct-to-consumer revenue were down by about the same percentage as overall revenue.

Source Fool.com

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