2024-04-05 08:46:44 ET
Summary
- Purple Innovation has had a volatile ride, with shares declining from $40 to $2 and negative operating income for the past 3 years.
- The company's one-time purchase sleep products make it difficult to generate repeat sales and recover from declining revenues.
- Fierce competition, weak brand reputation, and high cost pressures make Purple Innovation risky.
- Shares seem like dead money and should be avoided.
Investment Thesis
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Purple Innovation: Shares Unlikely To Wake Up