It was all a dream... Casper stock has fallen an anti-climactic 28% since the mattress icon went public Thursday. A month ago, Casper was valued privately at $1.1B. When it woke up Friday post-IPO, it was worth $346M as a public company. A charming brand and cut-out-the-middleman biz model hasn't saved Casper from unprofitability (investors aren't into the $80M lost on returned/refunded/discounted mattresses). Now other D2C startups (Warby Parker, Glossier, Allbirds) might second-guess the IPO life.
Less high... Aurora Cannabis. The Canadian pot-company's stock fell 13% after the founder/CEO Terry Booth announced his departure and 500 employees were laid off. When weed was first legalized in Canada and some US states, producers went into full-hype mode building production facilities. But demand's been lower than expected, so overproduction has dropped pot prices. Aurora shares are down 80% since March and other pot producers have fallen over 50% on average in a year.