Why Sleep Number Stock Dropped Today

In an overall red day for the stock markets, bed retailer Sleep Number (NASDAQ: SNBR) dropped significantly more than the overall S&P 500 index. Sleep Number closed the session off about 13% on the day. 

Sleep Number wasn't in bed alone today, though. Another specialty mattress maker, Casper Sleep (NYSE: CSPR), also fell more than 9%. And overall markets took down many stocks that have had outsized returns over the past several months. Sleep Number shares are still up about 170% in 12 months and more than 50% just this year. 

Sleep Number retail showroom. Image source: Sleep Number.

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Source Fool.com