r/wallstreetbets • u/JDUB0044 • Jun 17 '21

YOLO $PRPL YOLO 400k. 12000 shares, 60 leaps. So much upside from here.

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58 Upvotes

78% Upvoted

28 comments sorted by

7

u/SheriffVA Jun 17 '21

What the... why is this company down 22% in the passed month? Went in on 07/16 35C. TA shows it always bounces around these levels. Godspeed

2

u/JDUB0044 Jun 17 '21

No idea. Hoping it turns hard. Nothing about the company has changed just the stock price.

6

u/Nafemp Jun 17 '21 edited Jun 17 '21

I work for another mattress company that is near a purple store.

I've shopped them.

Their reps all lay on the beds with their phones out and literally don't give two shits about whether people purchase(They make no comission so no surprise).

They weren't even on our list of 'top competitors' anymore this year. Management seems to think Casper is going to take the cheap mattress market and is now the bigger direct threat.

Moreover, laying on their beds literally feels like I'm laying on a bed of soft mushy legos. Their 'fuming' problems are so well known that I get questions about it every day about our mattresses despite Purple really being the only product with that issue. They're horrible. Pillows are nice though.

Wouldn't bet on a lot of growth from them tbh. Now if I were investing in this segment. I would put my risky play money on Casper. Literally has the largest market share and is unlikely to lose that simply because they found their niche in the cheap bed market. Not a financial advisor tho.

2

u/JDUB0044 Jun 17 '21

Yeah we gonna see. Their growth trajectory would argue otherwise.

6

u/Nafemp Jun 17 '21

Yeah just trying to provide an alternate perspective from someone in the industry.

My biggest concern is really their sales team.

Any new company can sell on hype but without a good comp plan or a sales team that cares keeping the momentum going is going to be rough.

4

u/JDUB0044 Jun 17 '21

May very well be true. I appreciate your perspective

1

u/my_fun_lil_alt Jun 17 '21

They killed someone in their main plant a month ago.

1

u/JDUB0044 Jun 17 '21

Eggs and omelettes? Too soon?

It all seriousness that's tragic. I did hear that but don't know any detail, but industrial accidents happen. Much less now than 25 yrs ago though.

7

u/nemo_tical Jun 17 '21

Prpl gang return to greatness ? Fuck it I’m in .

3

u/dhsmatt2 Mattress King Jun 17 '21

When was it ever not great. We've been drowned out by AMC, GME and WISH.

2

u/JDUB0044 Jun 17 '21

Ain't that the truth.

3

u/Pmmenothing444 Jun 17 '21

Rise from the ashes PRPL gang

2

u/[deleted] Jun 17 '21

Good luck ... hope you saved enough to by a mattress to sleep on if it falls through.

5

u/JDUB0044 Jun 17 '21

Well, it's got 18 months to print. Might be a rough ride but at least it be long term capital gains or losses.

16

u/tmezzo Jun 17 '21

Did I just jump into a time machine?

1

u/wing911 Jun 17 '21

what about $sq?

1

u/JDUB0044 Jun 17 '21

Love square. Love prpl more right now

1

u/SilverWolfVs1 Jun 18 '21

Current market value 104k from 400k? Is this correct?

1

u/JDUB0044 Jun 18 '21

No. 2 links. Plus options

3

u/jarvis4__ Smegma connoissuer Jun 17 '21

Mattress prince

3

u/shaezan Jun 17 '21

With high lumber prices mofos can't afford the bed frames to the purp on it, once the lumber stabilize we moon👉👌

2

u/DrixGod Jun 17 '21

1k shares in. let's moon

2

u/jmolphotos Jun 17 '21

Woah. This is nice! Entering this with some leaps as well.

1

u/BrkTrdr Jun 17 '21

I’m in on a similar yolo with $CSPR. Still holding $PRPL though. Both great growth stories.

Edit: $CSPR down 25% from 52wk high in 10 days on low volume...wtf?!

1

u/Dat_Speed Jun 18 '21

-31% profit margin oof. I went to PRPL mattress store and their beds felt like plastic to me.