SAN FRANCISCO — Casper Sleep, a start-up that sells mattresses online, became on Thursday the latest money-losing outfit to get a cold shoulder from Wall Street investors. The company’s stock began trading on the New York Stock Exchange at $14.50 a share, slipped below $14 in the afternoon and ended the day at $13.50. The lackluster first day of trading did not come close to fulfilling what Casper’s venture-capital investors thought it was worth a few months ago. The New York-based start-up had been valued at $1.1 billion by private investors last year. Casper reduced its proposed share price, valuing the company at less than $500 million.

Source: New York Times February 06, 2020 21:38 UTC