Here's three reasons why Casper's IPO got a lower valuation

Casper is open for trading. Shares of the mattress-in-a-box company debuted on the New York Stock Exchange after pricing at $12. But Casper, and its investors, had been hoping for bigger numbers. The opening price valued the company at $476 million, less than half its previous $1.1 billion valuation during its latest round of private funding back in March 2019. Here's three reasons why Casper got the lower valuation.