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Tag: CSPR

  • Casper Sleep Inc. (CSPR) Continues Gaining on Merger Agreement Approval

    Casper Sleep Inc. (CSPR) Continues Gaining on Merger Agreement Approval

    On January 19, Casper Sleep Inc. (CSPR) announced the approval of the merger agreement for being acquired by Durational Capital Management, LP. Following the announcement, the stock gained further in the after hours.

    In regular trading, CSPR stock fluctuated between $6.03 and $5.52 at 6.28 million shares. The stock closed the session with a gain of 10.19% at $5.73. Consequent to the news, the stock continued to gain in the after-hours to add a further 11.17%. Hence, CSPR stock was trading at $6.37 per share at a volume of 2.35 million in the after-hours on Wednesday.

    The sleep products provider, Casper Sleep Inc. is headquartered in New York, NY. Currently, the company has a market capitalization of $216.44 million. Moreover, its 41.62 million outstanding shares have decreased by 11.16% in the past five days.

    CSPR Merger Agreement

    Previously, on November 15, the company had announced its definitive merger agreement for the acquisition by Durational Capital Management LP. According to this, CSPR will e acquired by certain subsidiaries of Durational Consumer SPV IV, LP. Further, the Durational Consumer SPV IV, LP. is an investment vehicle managed by Durational.

    As per the terms of the agreement, CSPR’s stockholders will receive $6.90 per share in cash consideration. Therefore, this represents a 94% and 80% premium to November 12’s closing share price and 30-day volume-weighted average price, respectively.

    The agreement was unanimously approved by the company’s board of directors, while the stockholders were recommended to approve the transaction.

    Approval of the Agreement

    Today, the company announced that CSPR’s stockholders also voted for adopting the Agreement and Plan of Merger. The company shared the preliminary results at its Special Meeting of Stockholders. According to this, 69.5% of the company’s outstanding stock votes were in favor of the merger. Additionally, the final voting results of the meeting (by an independent inspector) will be filed in Form 8-K with SEC.

    The expected close of the transaction is somewhere during the week of January 24, 2022. Following the close, the company will operate as a New York-based privately-held company.

    CSPR in Numbers

    In the third quarter of 2021, the company generated an all-time record quarterly revenue of $156.5 million. This shows an increase of 26.8% year over year.

    In addition, the net loss also increased to $25.3 million in the third quarter of 2021. This includes a one-time lease write-off charge of $2.4 million. Hence, marking a 59.4% year-over-year increase.

  • Casper (CSPR) gains almost 12% Today

    At the time of writing this article, CSPR, the native token of Casper, has a value of $0.2114 (12.07% increase today) with a trading volume of $79,919,044 with an increase of about 3.63% over the past 24 hours. It has been of the top gainers today among the top 100 cryptocurrencies.

    CSPR is listed on coinmarketcap in 149th place. It has a market dominance of about 0.02%. CSPR had created its all-time high around the price of $66.44 in May 2021.  During the crash, the price dropped down to a level of $0.05 from where it showed reversal. The price is still increasing but it would be quite long before CSPR can touch a dollar.

    The maximum supply of CSPR is around 10B while the current circulating supply is around 2.76B coins.

    Technical Analysis – Casper (CSPR)

    On the monthly time frame, the price is dropping and we have seen a decrease of 7.52% this month. But considering the fact that CSPR gained 88.96% in the past month is remarkable.

    On the daily time frame, we can see that the price has been printing higher highs on the daily time frame. It was following an ascending channel. It had been rejected two times from the channel but is still on the channel.

    After breaking the structural shift, the price left an order block that has still been unmitigated to date. Now the price is losing steam and momentum.

    CSPR - 1D

    There are two possible outcomes as to what the price may do now. If the price drops to the channel but gets bounced back, we can expect the price to rise up again. If CSPR drops down and fails to hold the level, we can expect the price to drop down and touch the order block present below.

    A confluence to the movement is the Fibonacci Retracement tool. The 0.786 and 0.618 zone is also present in the same area where the order block is present. From here, lower time confirmations should be taken into consideration to look for possible longs at that position. But this move will only be taken into consideration if CSPR fails to hold the level and drops down.

    Price Prediction – Casper (CSPR)

    According to the wallet investor, it is expected to reach the value of $0.0080 in a year. This means that according to their calculations and prediction Casper (CSPR) isn’t a good investment.

  • Casper Sleep Inc. (CSPR) Stock Surged 90.42% Today, Here’s Why              

    Casper Sleep Inc. (CSPR) stock soared 90.42% in the current market trading session at the price of $6.76 after announcing its financial results for the three months ending 30th September 2021.  

    CSPR believes that everyone deserves better sleep. The company produces and commercializes engineered sleep goods, including pillows, mattresses, bedding, and furniture designs. 

    CSPR Third Quarter 2021 Financial Results 

    On 15th November 2021, CSPR published its earnings report for the third quarter ended 30th September 2021 and provided corporate updates.  

    Financial Highlights  

    For the third quarter of 2021, CSPR reported revenue of $156.5 million. Retail partnership revenue was $60.0 million for the third quarter of 2021. It represents a gain of 78.6% from the third quarter of 2020. For the third quarter of 2021, gross profit totaled $63.9 million. It represents a drop of 6.7%, or $4.6 million, from the third quarter of 2020. 

    For the third quarter of 2021, CSPR reported a net loss of $25.3 million. An increase of 59.4%, or $9.4 million, from the same three months of 2020. For the third quarter ended 30th September 2021, adjusted EBITDA loss totaled $12.1 million.  The adjusted EBITDA loss was $7.5 million in the third quarter of the previous year. On 30th September 2021, cash and cash equivalents totaled approximately $43.1 million.  

    CSPR Appointed Emilie Arel  

    On 15th November 2021, the company also published that it had appointed Emilie Arel as Chief Executive Officer. She has earlier worked as Chief Commercial Officer and President at Casper. Ms. Arel has replaced Philip Krim, Co-founder and current CEO of Casper. The appointment became effective from 15th November 2021.  

    Chief Executive Officer of CSPR, Mr. Krim, remarked that he is pleased to announce the appointment of Emilie Arel as the new CEO. Her future duties will help to prioritize and nourish talent development across the company, he added.

    Definite Agreement with Durational 

    Additionally, on 15th November 2021, Casper has published entering into a definitive agreement with Durational Capital Management LP. As per the deal, CSPR will acquire $6.90 per share in an all-cash transaction. The transaction will close in the first quarter of 2022.  

  • Casper Sleep Inc (CSPR) stock surged in the current trading session; here’s why

    Casper Sleep Inc (CSPR) stock surged in the current trading session; here’s why

    At last check, Casper Sleep Inc. (CSPR) stock surged by 26.14% to $8.88 in the current trading session. CSPR stock previously closed at $7.04. The stock volume traded today is 10.96 million shares. 3 months average volume of stock trade is 696.52k. In the past year, CSPR stock jumped by 11.75%. In the last three and six months, the stock plunged -7.85% and -6.88% respectively.

    Analyst updates rating on CSPR stock

    Today Casper Sleep Inc. also surged as trading got underway in the first hour of the session. This was due to external news related to analyst rating. Wedbush analyst made an upgrade from a “neutral” rating to an “outperform rating” with the target price adjusted to $10.50 from $10.0. This positive analyst rating always attracts good news and confidence from the investors which had caused a jump of 28% in the first half-hour of trading.

    CSPR Stock’s product offering

    Casper Sleep Inc. was formerly a mattress company known as Providence Mattress Company that produced mattresses however it changed the name in January 2014. Afterwards, Casper Sleep produced, designed and sold a variety of sleep centric products and services. These product offerings include sleep related products like mattresses, pillow, bed sheets, sleep accessories and gadgets, along with other services.

    The company has an award winning R&D team at Casper Labs that designs the sleep-centric products. It has an online retail platform now and operates 67 retail stores along with 20 retail partners.

    Introducing new line of innovative Casper Cooling Collection

    Analyst rating isn’t the only thing that had improved about CSPR stock; the company’s basis of operations expanded to a new innovative product line which attractive features. On 20th April, Casper Sleep Inc. (NYSE: CSPR) announced a new line of innovative sleep products known as Casper Cooling Collection. This innovative line of products are specialized to give cooling effects which was done thanks to R&D’s efforts on utilizing the most advance technological solutions to optimize the cooling effect during sleep.

    Research Development team came out with a research study that concluded that the most important variable that affects the sleep quality during the night is temperature. The study showed 64% of the people surveyed had reported that the most common temperature problem while sleeping is the irregularity and irritability of sweating and overheating.

    What does this new product mean for the company?

    What the company essentially is figure out another niche in the sleep-related products and met the niche demand using their innovative and creative technological resources to bring about the solution- Casper Cooling Collection.  The new line of products contains the company’s proprietary Snow Technology.

    Furthermore, the whole suite of the collection includes Hyperlite Sheets, Lightweight Duvets, Breathable Mattress Protector. The Snow Technology mattresses consist of two main mattresses known as Casper Nova Hybrid Snow Mattress and Casper Wave Hybrid Snow Mattress which have the innovative feature of pulling away the heat from your body on the mattress.

    Overall the mattress combines four unique features to generate as much comfort through cooling and has undergone 150 lab tests by the Casper R&D team which showed sustained temperature regulations.

  • Early Morning Vibes: 3 Growth Stocks To Invest In Right Now

    Early Morning Vibes: 3 Growth Stocks To Invest In Right Now

    US stock indices hit new highs on Thursday. Investors are delighted with signs of progress in agreeing on a new program of state aid to the economy. These stimulus measures should support the economy during a potential slowdown in growth during the winter season.
     

    As a result of trading, the S & P 500 rose 21.31 points, or 0.6%, to 3722.48 points. The Dow Jones Industrial Average rose 148.83 points, or 0.5%, to 30303.37 points. The Nasdaq Composite rose 106.56 points, or 0.8%, to 12,764.75 points.
     

    Economic Update
     

    Congress leaders on Wednesday moved closer to agreeing on a roughly $ 900 billion bailout program that would include another round of direct payments to households. The congressmen could not come to a compromise for several months. The fact that they are close to an agreement should cheer Americans up during the difficult period of the pandemic: although the vaccine has begun to spread in the US, hospital admissions remain at a record.
     

    Most investors are confident that the economy needs a new stimulus program to hold out until the end of winter. Mass vaccinations should help limit the spread of the virus in 2021. The increase in the number of infections affected consumer confidence and retail sales. In addition, some states have introduced new restrictions on the operation of companies.
     

    US labor market data today showed that the economy is facing obstacles. Initial claims for unemployment benefits in the United States for the week through December 12 rose by 23,000 to 885,000, while economists expected a slight decline in the indicator.
     

    Corporate Update
     

    Lennar shares gained 7.6%. The developer said that construction orders and construction completed in the 1st quarter are likely to exceed analysts’ expectations.

    Shares of Rite Aid is up 17%. Accenture rose 6.9%.
     

    The yield on the 10-year US Treasury bond rose to 0.929% from 0.920% on Wednesday. The dollar continued to decline. The WSJ dollar index fell 0.3%. On Wednesday, it dropped to its lowest level since April 2018.
     

    The downturn was triggered, among other things, by the Federal Reserve’s announcement that $ 120 billion in monthly asset purchases will continue until tangible progress is made towards targeted employment and inflation.

    Today Top Movers


    Cyclo Therapeutics Inc (CYTH) share price going up 86.29% at $8.83 in today’s premarket trading session after Analysts update its ranking to Buy.
     

    Costco Wholesale Corp (COST) share price is up 0.06% at $370.5 in premarket trading on Friday. After the news of company spending millions of dollars on the Employee apprecitions.
     

    Skillz Inc (SKLZ) is soaring 2.07%, with the share price of $23.2 in early morning on Friday after the company becomes first publicly-traded mobile esports platform.
     

    Casper Sleep Inc. (CSPR) trading at $6.49, with the gain of 0.16% in Friday’s premarket session surged on no major update.

    Top Upgrades & Downgrades


    Keefe Bruyette turned bullish on Redwood Trust, Inc. (RWT), upgrading the stock to “Outperform” and assigning a $9.50 price target.
     

    Annaly Capital Management, Inc.(NYSE: NLY) has won the favor of Keefe Bruyette’s equity research team. The firm upgraded the shares from Market Perform to Outperform and moved their price target to $9.
     

    New Residential Investment Corp (NYSE: NRZ) received an upgrade from analysts at Keefe Bruyette, who also set their one-year price target on the stock to $10.50. They changed their rating on NRZ to Outperform from Market Perform in a recently issued research note.
     

    Earlier Friday Stifel reduced its rating on DENTSPLY SIRONA Inc (XRAY) stock to Hold from Buy and assigned the price target to $52.
     

    Credit Suisse analysts reduced their investment ratings, saying in research reports covered by the media that its rating for AEGON N.V. (AEG) has been changed to Neutral from Outperform.
     

    Analysts at Credit Suisse downgraded Palantir Technologies Inc (PLTR)’s stock to Underperform from Neutral on Friday.

    Latest Insider Activity


    Snap Inc. (SNAP) Chief Financial Officer Andersen Derek announced the sale of shares taking place on Dec 16 at $51.44 for some 33,164 shares. The total came to more than $1.71 million.
     

    Coeur Mining Inc. (CDE) SVP & General Counsel Nault Casey M. sold on Dec 16 a total 329,291 shares at $10.02 on average. The insider’s sale generated proceeds of almost $0.5 million.
     

    9 Meters Biopharma Inc. (NMTR) Director Sirgo Mark A declared the purchase of shares taking place on Dec 15 at $0.65 for some 230,769 shares. The transaction amount was around $0.15 million.
     

    Lexicon Pharmaceuticals Inc. (LXRX) Director Artal International S.C.A. bought on Dec 16 a total 32,259,461 shares at $3.20 on average. The purchase cost the insider an estimated $35.0 million.

    Earnings To Watch


    Top US earnings releases scheduled for today include MINISO Group Holding Limited (NYSE:MNSO). It will announce its Sep 2020 financial results. The company is expected to report earnings of $0.03 per share from revenues of $291.99M in the three-month period.
     

    Analysts expect TuanChe Limited (NASDAQ:TC) to report a net income (adjusted) of -$0.24 per share, when the bank releases its quarterly results shortly. Revenue for the fiscal quarter ended Sep 2020 is predicted to come in at $12.79M.
     

    NIKE Inc. (NKE), due to announce earnings after the market closes today, is expected to report earnings of $0.62 per share from revenues of $10.56B recently concluded three-month period.