PRPL - Purple CEO: Meme-stock investors 'fun' but the company has a real product

Boogich/iStock via Getty Images Joseph Megibow, CEO of mattress maker Purple Innovation (PRPL), said Wednesday that receiving interest from meme-stock investors was "fun to watch" but underlined the value of the company's core products. Speaking to CNBC, Megibow also assured investors that the company had gotten over its recent manufacturing problems and was now poised for further growth. On PRPL's place on the radars of Reddit-based traders, Megibow said he noticed the attention as far back as a year and a half ago. "It's always fun to watch that investment community," he admitted, though he immediately jumped into a detailed description of the company's mattress product. Megibow detailed that the company holds over 200 patents, produces its products using a proprietary gel and runs its manufacturing process on machines it designed itself. "Over 90% of our net revenue is from materials of our own invention on machines we built ourselves,"

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Purple CEO: Meme-stock investors 'fun' but the company has a real product