NBA champ and tech investor Andre Iguodala counts Zoom’s triple since IPO as best investment

The three-time NBA champion also has amassed an investment portfolio of more than 40 companies. Iguodala has invested in Allbirds, Casper and Jumia, but he told CNBC on Friday his best funding decision yet is Zoom Video Communications. Iguodala said Datadog has been another successful investment for him, noting the New York-based software company beat analyst expectations in its quarterly results released Thursday. Iguodala has been involved in investment deals that total $294 million, according


The three-time NBA champion also has amassed an investment portfolio of more than 40 companies.
Iguodala has invested in Allbirds, Casper and Jumia, but he told CNBC on Friday his best funding decision yet is Zoom Video Communications.
Iguodala said Datadog has been another successful investment for him, noting the New York-based software company beat analyst expectations in its quarterly results released Thursday.
Iguodala has been involved in investment deals that total $294 million, according
NBA champ and tech investor Andre Iguodala counts Zoom’s triple since IPO as best investment Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-14  Authors: kevin stankiewicz
Keywords: news, cnbc, companies, video, grown, zoom, nba, company, zooms, jumia, iguodala, triple, ipo, investment, counts, trading, investor, champ, tech, software


NBA champ and tech investor Andre Iguodala counts Zoom's triple since IPO as best investment

Andre Iguodala has built a reputation that goes far beyond his on-court defense. The three-time NBA champion also has amassed an investment portfolio of more than 40 companies.

Iguodala has invested in Allbirds, Casper and Jumia, but he told CNBC on Friday his best funding decision yet is Zoom Video Communications.

“Zoom has done really well,” Iguodala said on “Squawk Alley.” “They’ve just been getting after it. It’s showing in the stock price, but I think it … will continue to grow.”

Zoom, a cloud-based video conferencing and collaboration provider, went public in April at $36 per share.

It soared on its first day of trading, and despite a steep decline in the fall, its shares were around $90 Friday — a 150% increase from its IPO. Founded in 2011, Zoom has a market cap just shy of $25 billion.

Iguodala, who was recently traded to the Miami Heat from the Memphis Grizzlies, said he has grown a strong interest in enterprise software companies — not necessarily something a 15-year NBA veteran would otherwise be using on a daily basis.

“I’ve grown to learn and grown to put a lot of my thought and effort into learning the space and playing catch up,” Iguodala, 36, said. “Being a professional athlete, you tend to not know about that space because it’s not the sexy something that everyone’s talking about.”

“But in terms of growth, I think that’s what’s moving the tech sector more than anything else,” he continued.

Iguodala said Datadog has been another successful investment for him, noting the New York-based software company beat analyst expectations in its quarterly results released Thursday.

Iguodala, who spent six seasons and won three titles near Silicon Valley while playing for the Golden State Warriors, is on the board of Jumia, an e-commerce company based in Lagos, Nigeria.

Upon Jumia completing its IPO in April, Iguodala became the first active major-sport professional athlete to be on the board of a public company, his business partner Rudy Cline-Thomas recently told MarketWatch.

Jumia has struggled mightily since its IPO, however. It hit its 52-week high of $49.77 shortly after its debut but was trading near $5.60 on Friday.

Iguodala has been involved in investment deals that total $294 million, according to data from Pitchbook.

The former Philadelphia 76er doesn’t just focus on enterprise software. He was a Series A investor in Allbirds, the environmentally conscious shoe company, and he also invested in direct-to-consumer mattress company Casper.

Casper held its IPO last week. It opened at $14.50 per share, giving it a market cap well below its most recent private valuation, and has struggled so far. The stock was trading just above $10 on Friday.


Company: cnbc, Activity: cnbc, Date: 2020-02-14  Authors: kevin stankiewicz
Keywords: news, cnbc, companies, video, grown, zoom, nba, company, zooms, jumia, iguodala, triple, ipo, investment, counts, trading, investor, champ, tech, software


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Vivendi plans an IPO of Universal by early 2023 at the latest

French media conglomerate Vivendi said on Thursday it planned to list its most-prized asset, Universal Music Group, by early 2023 at the latest, following a year of record profit for the division. A consortium led by China’s tech giant Tencent bought 10% of Universal last December in a deal that valued itat 30 billion euros. The same consortium can buy a further 10% of Universal’s share capital until mid-January 2021. Group revenue was up 5.6% last year, totalling 15.9 billion euros.The group re


French media conglomerate Vivendi said on Thursday it planned to list its most-prized asset, Universal Music Group, by early 2023 at the latest, following a year of record profit for the division.
A consortium led by China’s tech giant Tencent bought 10% of Universal last December in a deal that valued itat 30 billion euros.
The same consortium can buy a further 10% of Universal’s share capital until mid-January 2021.
Group revenue was up 5.6% last year, totalling 15.9 billion euros.The group re
Vivendi plans an IPO of Universal by early 2023 at the latest Cached Page below :
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Keywords: news, cnbc, companies, share, early, music, ipo, euros, latest, universals, vivendis, revenue, group, vivendi, plans, universal, 2023, billion, profit


Vivendi plans an IPO of Universal by early 2023 at the latest

French media conglomerate Vivendi said on Thursday it planned to list its most-prized asset, Universal Music Group, by early 2023 at the latest, following a year of record profit for the division.

This represents a new milestone in a two-year process launched by Vivendi’s top investor, Vincent Bollore, to make the most of the world’s biggest music label, home to artists Taylor Swift, Drake and Lady Gaga.It is a also a change of heart for the Paris-based group, as it had said it considered an initial public offering (IPO) of Universal as too complex back in 2018.

Chief Executive Officer Arnaud de Puyfontaine declined to give further details on the potential IPO but said Universal’s stellar performance could draw further interest from investors.

A consortium led by China’s tech giant Tencent bought 10% of Universal last December in a deal that valued it

at 30 billion euros. The same consortium can buy a further 10% of Universal’s share capital until mid-January 2021.

The music label’s earnings before interest, tax and amortization (EBITA) jumped by 22% at constant currency and perimeter from a year earlier to 1.12 billion euros ($1.21 billion), boosting group profit.In contrast, Vivendi’s second biggest division, pay-TV Canal Plus, saw revenue and profit drop on a comparable basis, penalized by the departure of subscribers in France on heightened competition from video-streaming platforms such as Netflix.

Group revenue was up 5.6% last year, totalling 15.9 billion euros.The group returned 3.3 billion euros to shareholders last year via share buybacks and dividends. It will offer a divided of 60 cents per share in 2019, up 20% from a year earlier.


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Everything Jim Cramer said about the stock market on ‘Mad Money,’ including looming earnings, Casper IPO, Taylor Morrison CEO

CNBC’s Jim Cramer took a look at the week ahead of earnings reports, giving his thoughts on the stocks of Lyft, CVS, Expedia Group and more. The “Mad Money” host broke down Casper Sleep’s initial public offering and what it means for the broader market. Later in the show, he sat down with Taylor Morrison CEO Sheryl Palmer to get insight into the housing market and discuss diversity in corporate America. Lucas Jackson | ReutersInvestors showed discipline around the IPO of , and that is a good sig


CNBC’s Jim Cramer took a look at the week ahead of earnings reports, giving his thoughts on the stocks of Lyft, CVS, Expedia Group and more.
The “Mad Money” host broke down Casper Sleep’s initial public offering and what it means for the broader market.
Later in the show, he sat down with Taylor Morrison CEO Sheryl Palmer to get insight into the housing market and discuss diversity in corporate America.
Lucas Jackson | ReutersInvestors showed discipline around the IPO of , and that is a good sig
Everything Jim Cramer said about the stock market on ‘Mad Money,’ including looming earnings, Casper IPO, Taylor Morrison CEO Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-07  Authors: tyler clifford
Keywords: news, cnbc, companies, market, morrison, palmer, jim, women, york, casper, stock, ceo, cramer, corporate, looming, money, mad, taylor, including, ipo


Everything Jim Cramer said about the stock market on 'Mad Money,' including looming earnings, Casper IPO, Taylor Morrison CEO

CNBC’s Jim Cramer took a look at the week ahead of earnings reports, giving his thoughts on the stocks of Lyft, CVS, Expedia Group and more. The “Mad Money” host broke down Casper Sleep’s initial public offering and what it means for the broader market. Later in the show, he sat down with Taylor Morrison CEO Sheryl Palmer to get insight into the housing market and discuss diversity in corporate America.

Cramer’s game plan

CNBC’s was befuddled to see how good economic data was overridden on the market by uncertainty around the coronavirus outbreak. Wall Street found out Friday that the U.S. business community created more jobs than than economist projected — 225,000 new hires compared to the 158,000 that was forecast — but investors traded stocks on worries about the coronavirus’ potential impact on the financial world and a probable slowing global economy. The dropped 277 points, while the and both declined 0.54% during the trading day. “As much as I want to focus on the earnings next week, keep in mind that this epidemic can steal the spotlight at any given time, like it did today in spite of a phenomenal, terrific jobs report,” Cramer said on “Mad Money.”

Know your IPO: Casper Sleep

Philip Krim, co-founder and CEO of mattress company, Casper, rings a ceremonial bell to celebrate the companies IPO on the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., February 6, 2020. Lucas Jackson | Reuters

Investors showed discipline around the IPO of , and that is a good sign for the market, according to Cramer. “I’m glad that there’s little appetite for something like Casper,” the host said. “That tells you this red-hot market still has discerning taste, that investors still have a healthy dose of skepticism. That’s what you need if a market’s only going to continue to go higher.”

Diversity in corporate America

Sheryl Palmer, CEO of Taylor Morrison. Adam Jeffery | CNBC

Corporate America would make great business strides if employers put more effort into making their workforce include women and “true diversity,” Sheryl Palmer, CEO of the country’s fifth-largest homebuilder, told CNBC. The comments came one day after a Wall Street Journal report found that just 6% of the 3,000 largest companies in the United States were led by a woman. The data, however, are more bleak for nonwhite women. “The benefit of our organization is that we have different people thinking about the same problem differently,” Palmer said in a “Mad Money” interview. “It gets us to a better place, and that’s what corporate America is missing today.”

Cramer’s lightning round


Company: cnbc, Activity: cnbc, Date: 2020-02-07  Authors: tyler clifford
Keywords: news, cnbc, companies, market, morrison, palmer, jim, women, york, casper, stock, ceo, cramer, corporate, looming, money, mad, taylor, including, ipo


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Cramer worries about Casper’s staggering losses in the ‘post-WeWork apocalypse’ IPO climate

The company’s shares opened at $14.50, a more than 20% increase from the offering price. “The losses here are staggering” for the business, Cramer said on “Squawk on the Street.” However, Casper ended up pricing its IPO on Wednesday evening at $12 per share, giving the company a market value of $476 million. “You cut and cut and cut; you can get a deal to work, any deal to work,” he added. If the shares are priced too high on their first day, they could fall and create less-than-ideal optics.


The company’s shares opened at $14.50, a more than 20% increase from the offering price.
“The losses here are staggering” for the business, Cramer said on “Squawk on the Street.”
However, Casper ended up pricing its IPO on Wednesday evening at $12 per share, giving the company a market value of $476 million.
“You cut and cut and cut; you can get a deal to work, any deal to work,” he added.
If the shares are priced too high on their first day, they could fall and create less-than-ideal optics.
Cramer worries about Casper’s staggering losses in the ‘post-WeWork apocalypse’ IPO climate Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-06  Authors: kevin stankiewicz
Keywords: news, cnbc, companies, climate, casper, shares, cut, staggering, caspers, apocalypse, million, ipo, offering, squawk, priced, work, price, postwework, cramer, opened, worries, losses


Cramer worries about Casper's staggering losses in the 'post-WeWork apocalypse' IPO climate

CNBC’s Jim Cramer expressed concerns about the fundamentals of Casper Sleep’s business ahead of the online mattress start-up’s Thursday debut as a publicly traded stock.

The company’s shares opened at $14.50, a more than 20% increase from the offering price.

“The losses here are staggering” for the business, Cramer said on “Squawk on the Street.”

Casper, which started out selling mattresses on the internet five years ago, had a loss of $92.1 million in 2018 and $73.4 million in 2017 on net revenues of $357.9 million in 2018 and $250.9 million in 2017. Casper has both high-profile investors, such as actor Leonardo DiCaprio, and high-profile partnerships with retailers such as Costco and Amazon.

The New York-based company announced plans for an initial public offering in early January and had initially planned to price its shares between $17 and $19.

However, Casper ended up pricing its IPO on Wednesday evening at $12 per share, giving the company a market value of $476 million. That’s dramatically lower than the $1.1 billion valuation from its latest round of private funding.

“They may have priced it to move,” the “Mad Money” host said, referencing a strategy in which companies lower their offering price in hopes of creating a first-day pop, which indeed happened.

“You cut and cut and cut; you can get a deal to work, any deal to work,” he added. If the shares are priced too high on their first day, they could fall and create less-than-ideal optics.

Philip Krim, 36, co-founder and CEO of Casper, later told CNBC on Thursday that “valuations are moments in time” and his focus is on the future and growing the company.

Appearing on “Squawk Alley” shortly after the stock opened higher, Krim said: “I feel awesome. It’s been a great day. It’s an awesome milestone for Casper. So I’m pumped.”


Company: cnbc, Activity: cnbc, Date: 2020-02-06  Authors: kevin stankiewicz
Keywords: news, cnbc, companies, climate, casper, shares, cut, staggering, caspers, apocalypse, million, ipo, offering, squawk, priced, work, price, postwework, cramer, opened, worries, losses


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If you invested $1,000 in Beyond Meat at IPO, here’s how much you’d have now

If you invested $1,000 in Beyond Meat at IPO, that investment would be worth nearly $4,500 as of Feb. 5, 2020, for a total return of around 345%, according to CNBC calculations. In the same time frame, by comparison, the S&P 500 earned a total return of around 14%. One high point: On Jan. 7, 2020, Beyond Meat stock surged 12.5% after its rival Impossible Foods dropped out of a deal with McDonald’s, Reuters reports. Now, investors are banking on the idea that if a partnership between Beyond Meat


If you invested $1,000 in Beyond Meat at IPO, that investment would be worth nearly $4,500 as of Feb. 5, 2020, for a total return of around 345%, according to CNBC calculations.
In the same time frame, by comparison, the S&P 500 earned a total return of around 14%.
One high point: On Jan. 7, 2020, Beyond Meat stock surged 12.5% after its rival Impossible Foods dropped out of a deal with McDonald’s, Reuters reports.
Now, investors are banking on the idea that if a partnership between Beyond Meat
If you invested $1,000 in Beyond Meat at IPO, here’s how much you’d have now Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-06  Authors: anna hecht
Keywords: news, cnbc, companies, meat, youd, invested, shares, mcdonalds, jan, products, 1000, ipo, return, heres, investors, 2020, total, stock


If you invested $1,000 in Beyond Meat at IPO, here's how much you'd have now

Beyond Meat, a producer of plant-based meat substitutes, now has its products available for purchase at dozens of major American fast-food chains and grocery stores across the country. Its products, which are designed to imitate chicken, beef and pork, have become a popular choice for those who aim to avoid eating meat.

Since going public in May 2019, Beyond Meat has partnered with Subway, KFC, Del Taco, Dunkin’ Brands and more. And its shareholders have seen massive returns.

If you invested $1,000 in Beyond Meat at IPO, that investment would be worth nearly $4,500 as of Feb. 5, 2020, for a total return of around 345%, according to CNBC calculations. In the same time frame, by comparison, the S&P 500 earned a total return of around 14%. Beyond Meat has a current stock price of around $111.

While Beyond Meat’s shares have done well over the years, any individual stock can over- or underperform, and past returns do not predict future results. Investors warn that this stock is likely to have many ups and downs ahead, which could make it a poor choice for investors with low risk tolerance. In fact, on Jan. 14, trading of Beyond Meat was briefly halted “due to volatility.”

One high point: On Jan. 7, 2020, Beyond Meat stock surged 12.5% after its rival Impossible Foods dropped out of a deal with McDonald’s, Reuters reports. Now, investors are banking on the idea that if a partnership between Beyond Meat and McDonald’s expands, the alternative meat company’s shares will rise to new heights.

CNBC: Beyond Meat stock as of February 2020.


Company: cnbc, Activity: cnbc, Date: 2020-02-06  Authors: anna hecht
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Casper surges nearly 30% in market debut

And Casper’s IPO comes on the heels of a WeWork IPO fiasco in 2019, which put a dark cloud over the start-up market. But at one point, as a private business, Casper was valued at $1.1 billion, giving it so-called unicorn status. Casper had priced its IPO at $12 per share , or the very low end of its target range, Wednesday evening. Casper shares, trading on the New York Stock Exchange under the symbol “CSPR,” were recently up about 26% at $15.17. In the nine months ended Sept. 30, Casper reporte


And Casper’s IPO comes on the heels of a WeWork IPO fiasco in 2019, which put a dark cloud over the start-up market.
But at one point, as a private business, Casper was valued at $1.1 billion, giving it so-called unicorn status.
Casper had priced its IPO at $12 per share , or the very low end of its target range, Wednesday evening.
Casper shares, trading on the New York Stock Exchange under the symbol “CSPR,” were recently up about 26% at $15.17.
In the nine months ended Sept. 30, Casper reporte
Casper surges nearly 30% in market debut Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-06  Authors: lauren thomas
Keywords: news, cnbc, companies, shares, casper, target, nearly, startups, business, caspers, million, market, ipo, debut, valuation, share, surges


Casper surges nearly 30% in market debut

The mattress market in the U.S. has also showed signs of slowing down, analysts say. And Casper’s IPO comes on the heels of a WeWork IPO fiasco in 2019, which put a dark cloud over the start-up market. Casper’s debut is another sign that going public as an unprofitable company can be a disaster.

Like many Silicon Valley-backed start-ups looking to go public, however, Casper has faced scrutiny for being unprofitable and for its high costs to acquire new customers and keep them.

The retailer has a valuation of about $575 million based on where shares opened Thursday. But at one point, as a private business, Casper was valued at $1.1 billion, giving it so-called unicorn status.

Casper had priced its IPO at $12 per share , or the very low end of its target range, Wednesday evening. That was after it slashed its target price range, from $17 to $19 a share, to $12 to $13 per share.

Casper shares, trading on the New York Stock Exchange under the symbol “CSPR,” were recently up about 26% at $15.17.

Casper’s CEO Philip Krim doesn’t seem too concerned about the start-up watching its valuation take a major haircut.

“Valuations are just moments in time,” Krim told CNBC Thursday morning. “This is obviously a huge milestone for us. … It doesn’t distract us from building the business we want to build.”

Casper is still losing money, giving analysts reason to question whether it will ever be profitable. In the nine months ended Sept. 30, Casper reported a net loss of $67.3 million on revenue of $312.3 million. While revenue increased 20% year over year, its losses widened about 5%.

“Casper now is opening its own stores, and that raises expenses and capital needs,” said Erik Gordon, a professor at University of Michigan’s Ross School of Business. “It is selling through existing retailers, and that shrinks margins. … A year from now, its shares are more likely to be half their opening price than twice the price.”

The company launched in 2014 and was one of the pioneers of the mattress-in-a-box trend. It is now expanding its store fleet, and has 60 of them, with goals to have upwards of 200. It sells its mattresses and pillows in places such as Costco and on Amazon. Casper has pitched investors on building its business beyond just mattresses and around a global “sleep economy.”

The New York-based company’s investors include retailer Target, actor Leonardo DiCaprio and investment firms Lerer Hippeau Ventures, IVP and NEA.

However, these investors could be in the red based on Casper’s new valuation. Take Target. It was reportedly in talks to buy the mattress maker in 2017 for $1 billion, but later invested $80 million in Casper. It currently sells Casper mattresses and pillows in its stores and on Target.com.

At the midpoint of Casper’s initial $17 to $19 IPO range, the pricing represented a 37% drop from Casper’s share price at the time Target became an investor in the start-up’s Series C fundraising in 2017, CNBC previously reported.

Still, there have been much bigger paper losses involving major corporations investing in high-growth start-ups, including SoftBank’s WeWork investment, and Altria’s investment in Juul, which last month was written down by $4 billion.


Company: cnbc, Activity: cnbc, Date: 2020-02-06  Authors: lauren thomas
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Casper prices IPO at $12 a share, which is at the low end of estimates

Samurai Messenger Service prepares to deliver a packaged mattress from the bed delivery company Casper in New York. Casper on Wednesday evening priced its initial public offering at $12 per share. The online mattress retailer had cut its price range from $17 to $19 a share, to $12 to $13 a share, according to a Wednesday regulatory filing. The New York-based company’s investors include retailer Target, actor Leonardo DiCaprio and investment firms Lerer Hippeau Ventures, IVP and NEA. The mattress


Samurai Messenger Service prepares to deliver a packaged mattress from the bed delivery company Casper in New York.
Casper on Wednesday evening priced its initial public offering at $12 per share.
The online mattress retailer had cut its price range from $17 to $19 a share, to $12 to $13 a share, according to a Wednesday regulatory filing.
The New York-based company’s investors include retailer Target, actor Leonardo DiCaprio and investment firms Lerer Hippeau Ventures, IVP and NEA.
The mattress
Casper prices IPO at $12 a share, which is at the low end of estimates Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-05  Authors: amelia lucas lauren thomas, amelia lucas, lauren thomas
Keywords: news, cnbc, companies, ipo, business, target, company, low, estimates, retailer, end, share, mattress, funding, prices, million, casper


Casper prices IPO at $12 a share, which is at the low end of estimates

Samurai Messenger Service prepares to deliver a packaged mattress from the bed delivery company Casper in New York.

Casper on Wednesday evening priced its initial public offering at $12 per share.

At this price, the company would have a market value of $476 million, excluding the underwriters’ allotment, the report said.

The online mattress retailer had cut its price range from $17 to $19 a share, to $12 to $13 a share, according to a Wednesday regulatory filing.

Casper plans to list Thursday on the New York Stock Exchange under the symbol “CSPR.”

Casper’s latest round of funding valued the direct-to-consumer business at $1.1 billion. But like many Silicon Valley-backed startups looking to go public, the company has faced scrutiny for its lack of profitability and high costs to acquire new customers, and keep them. Its IPO also comes on the heels of a WeWork IPO fiasco in 2019, which put a dark cloud over the start-up market.

“When Casper’s last [funding] round was done, the mattress category was growing quite nicely,” said Dan McCarthy, an assistant professor of marketing at Emory University’s Goizueta School of Business. “Over the last 12 months, slowness showed up. … I think they are just late to the market.”

In the nine months ended Sept. 30, Casper reported a net loss of $67.3 million and revenue of $312.3 million.

The company launched in 2014 and was one of the pioneers of the mattress-in-a-box trend. It is now expanding into brick-and-mortar locations.

Casper has 60 open retail stores, with goals to have upwards of 200. It has also begun selling bedroom furniture and fixtures, like pillows and lamps, and struck partnerships with retailers like Costco and Amazon. Casper says it is building its business around the global “sleep economy.”

The New York-based company’s investors include retailer Target, actor Leonardo DiCaprio and investment firms Lerer Hippeau Ventures, IVP and NEA.

The mattress retailer was originally planning on raising as much as $182.4 million through its IPO, but it will fall well short of that target. Casper is planning to use the proceeds from the offering for working capital, funding growth and other general corporate purposes, according to regulatory filings.

“Casper is selling a mattress,” McCarthy said. “The longevity of that is terrible. … It’s poor unit economics.”

Some of Casper’s rivals today include Purple, Nectar, Serta Simmons’ Tuft & Needle, Walmart’s Allswell mattress brand and Eight Sleep.


Company: cnbc, Activity: cnbc, Date: 2020-02-05  Authors: amelia lucas lauren thomas, amelia lucas, lauren thomas
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Casper IPO reflects investor sentiment toward money-losing companies

A view of the Casper mattresses during Casper’s LA celebration at Blind Dragon on July 9, 2015 in West Hollywood, California. Investors push back against money-losing companiesOn one level, Casper represents a push-back against companies that are losing money and do not have any imminent path to profitability. “This is reflecting the attitude toward money-losing companies, not specifically to IPOs,” Jay Ritter, a professor from the University of Florida and an IPO expert, said on CNBC. “These co


A view of the Casper mattresses during Casper’s LA celebration at Blind Dragon on July 9, 2015 in West Hollywood, California.
Investors push back against money-losing companiesOn one level, Casper represents a push-back against companies that are losing money and do not have any imminent path to profitability.
“This is reflecting the attitude toward money-losing companies, not specifically to IPOs,” Jay Ritter, a professor from the University of Florida and an IPO expert, said on CNBC.
“These co
Casper IPO reflects investor sentiment toward money-losing companies Cached Page below :
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Keywords: news, cnbc, companies, spending, ipo, investor, companies, share, price, youre, moneylosing, sentiment, profitable, sell, offering, casper, reflects


Casper IPO reflects investor sentiment toward money-losing companies

A view of the Casper mattresses during Casper’s LA celebration at Blind Dragon on July 9, 2015 in West Hollywood, California. Rachel Murray | Getty Images

Mattress firm Casper priced its initial public stock offering at $12 a share on Wednesday evening, a significant haircut to its prior price talk. The firm earlier announced it had cut the expected price range Wednesday morning from $17 to 19 a share to $12 to $13 a share in an offering of 8.4 million shares.

Investors push back against money-losing companies

On one level, Casper represents a push-back against companies that are losing money and do not have any imminent path to profitability. “This is reflecting the attitude toward money-losing companies, not specifically to IPOs,” Jay Ritter, a professor from the University of Florida and an IPO expert, said on CNBC. Santosh Rao, who researches IPOs for Manhattan Venture Research, agrees. “The days of growth at any cost are over. You either have to be profitable, or take a haircut,” he told me.

Selling direct to consumer is challenging

On another level, there is the challenge of selling in the direct-to-consumer space. “These companies are spending a lot of money to get market share,” Kathleen Smith from Renaissance Capital said. “IPO investors are concerned about the cost of acquiring new customers and what happens when they stop spending a lot of money.”

Lots of competition

Finally, there is the intensity of the competition. There are well known, old-school firms like Tempur Sealy, which is already profitable, and lesser-known competitors like Purple Innovations, a direct-to-consumer company, that is also profitable, though barely. Hopes that Casper can sell tons of bedding supplies is also a bit of a stretch, according to Dan Primack at Axios. “You need to be able to sell the sheets and the pillows, and there’s not that much of a differentiator, and if you’re going through Amazon or if you’re searching on Google, they’re really reliant on other people’s platforms.”

The IPO market is hot in 2020


Company: cnbc, Activity: cnbc, Date: 2020-02-05  Authors: bob pisani
Keywords: news, cnbc, companies, spending, ipo, investor, companies, share, price, youre, moneylosing, sentiment, profitable, sell, offering, casper, reflects


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Here are Monday’s biggest analyst calls of the day: Verizon, Nike, Uber, Exxon Mobil & more

Wedbush added the stock to its best ideas list and said it sees a “profitable” business model for the ride-sharing company in 2021. “Since its IPO shares of Uber have been a nightmare for investors as the stock has traded well below its $45 IPO with the Street putting the name squarely in the investor penalty box out of the gates. To this point, our analysis of Uber’s growth dynamics, pricing rationalization in the ridesharing space, and Uber Eats strategy now lay the groundwork for a company go


Wedbush added the stock to its best ideas list and said it sees a “profitable” business model for the ride-sharing company in 2021.
“Since its IPO shares of Uber have been a nightmare for investors as the stock has traded well below its $45 IPO with the Street putting the name squarely in the investor penalty box out of the gates.
To this point, our analysis of Uber’s growth dynamics, pricing rationalization in the ridesharing space, and Uber Eats strategy now lay the groundwork for a company go
Here are Monday’s biggest analyst calls of the day: Verizon, Nike, Uber, Exxon Mobil & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-03  Authors: michael bloom
Keywords: news, cnbc, companies, mondays, stock, ipo, analyst, profitable, wedbush, verizon, mobil, exxon, nike, day, growth, business, ridesharing, biggest, company, uber, model, calls


Here are Monday's biggest analyst calls of the day: Verizon, Nike, Uber, Exxon Mobil & more

Wedbush added the stock to its best ideas list and said it sees a “profitable” business model for the ride-sharing company in 2021.

“Since its IPO shares of Uber have been a nightmare for investors as the stock has traded well below its $45 IPO with the Street putting the name squarely in the investor penalty box out of the gates. To this point, our analysis of Uber’s growth dynamics, pricing rationalization in the ridesharing space, and Uber Eats strategy now lay the groundwork for a company going through a growth metamorphosis with a profitable business model now on the near-term horizon for 2021.”


Company: cnbc, Activity: cnbc, Date: 2020-02-03  Authors: michael bloom
Keywords: news, cnbc, companies, mondays, stock, ipo, analyst, profitable, wedbush, verizon, mobil, exxon, nike, day, growth, business, ridesharing, biggest, company, uber, model, calls


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As coronavirus concerns crashed the market on Friday, One Medical was trying to pull off a successful IPO

On the same day that concerns surrounding the coronavirus sparked the biggest plunge in the Dow Jones Industrial Average since August, primary care chain One Medical held its stock market debut. Speaking from the Nasdaq on Friday, One Medical CEO Amir Rubin told CNBC that his company is built to help patients when potential crises like the coronavirus emerge. “We hope this is contained, but we stand ready to serve and we’re ready to answer members’ questions,” Rubin said. In the midst of Rubin’s


On the same day that concerns surrounding the coronavirus sparked the biggest plunge in the Dow Jones Industrial Average since August, primary care chain One Medical held its stock market debut.
Speaking from the Nasdaq on Friday, One Medical CEO Amir Rubin told CNBC that his company is built to help patients when potential crises like the coronavirus emerge.
“We hope this is contained, but we stand ready to serve and we’re ready to answer members’ questions,” Rubin said.
In the midst of Rubin’s
As coronavirus concerns crashed the market on Friday, One Medical was trying to pull off a successful IPO Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-01  Authors: ari levy
Keywords: news, cnbc, companies, trying, company, market, crashed, medical, day, ipo, concerns, services, rubin, trump, sparked, coronavirus, stock, ready, successful, pull


As coronavirus concerns crashed the market on Friday, One Medical was trying to pull off a successful IPO

On the same day that concerns surrounding the coronavirus sparked the biggest plunge in the Dow Jones Industrial Average since August, primary care chain One Medical held its stock market debut.

It’s not the kind of coincidence a company in the health care industry wanted. Market selloffs are typically bad for IPOs.

But the stock did fine, climbing 58% in it is first day on the Nasdaq, albeit after the San Francisco-based company priced at the bottom end of its expected IPO range. With a closing price of $22.07, One Medical is valued at about $2.7 billion.

Speaking from the Nasdaq on Friday, One Medical CEO Amir Rubin told CNBC that his company is built to help patients when potential crises like the coronavirus emerge. That’s because One Medical combines a network of primary clinics and a membership base of almost 400,000 people with a suite of digital services that allow the company to share information with patients from local and national authorities as well as medical professionals.

“We hope this is contained, but we stand ready to serve and we’re ready to answer members’ questions,” Rubin said. “Certainly there is concern and people are reaching out.”

In the midst of Rubin’s interview with CNBC, Trump Administration officials were speaking to reporters at the White House about the coronavirus. Health and Human Services Secretary Alex Azar said that President Donald Trump signed an order for the U.S. to deny entry to any foreign nationals who have traveled in China within the past two weeks, aside from the immediate family of U.S. citizens.

The Dow plunged 2.1% on Friday, the index’s worst day since August, while the S&P 500 tumbled the most since October, falling 1.8%. Selling was sparked by fears that the coronavirus would spread to a degree that it would start hurting the global economy.


Company: cnbc, Activity: cnbc, Date: 2020-02-01  Authors: ari levy
Keywords: news, cnbc, companies, trying, company, market, crashed, medical, day, ipo, concerns, services, rubin, trump, sparked, coronavirus, stock, ready, successful, pull


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