Casper Mattress Company has just recently IPO'd and has had a less than ideal kickoff to their share price performance. However, Casper is filling a niche spot in the market being that they can ship their product directly to your door in a package that is easy to transport around the house until you wish to unravel it in a bedroom.
I think we can all share some memories of our childhoods helping our parents or siblings to try to stuff a twin or double sized mattress up a winding staircase or through a hallway and into a bedroom.
Casper has eased the difficulty and simplified the installation process while also providing a comfortable and very well reviewed product using memory foam technology.
The company has been doing big spending in 2019 towards advertising and expects to see roughly a %20+ growth to their sales moving forward through 2020.
Pre-IPO the company received a 11B valuation in what is roughly a 114B market.
Once some more buyers step in and recent gaps are filled, we may see a run towards higher fib levels and possibly even onto newer highs.
If price starts to slide again and stay below the $10 level, then we may be able to expect some continued selling until a new bottom is discovered.