Crib Death

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Surely one of the most dismal unicorn IPOs to happen has been Casper (symbol CSPR). Just like everyone else, they pass themselves off as a “technology” company (whatever that’s supposed to mean), even though they sell freakin’ pillows and mattresses.

What’s particularly shocking about Casper is that, in private funding, it was valued at well over a billion dollars, and yet with just a few days in the public markets, it has a market cap of $400 million. I suspect that’s probably still several hundred million too high, but we’ll let the market sort it out.

There are still a couple of unicorns that seem healthy, such as Fiverr:

……and Slack……

…..as well as the nutty Virgin Galactic Holdings.……

Regarding this last one, it seems wholly unsustainable, in spite of the obvious success of the tens of thousands of space tourists that occupy their futuristic rocket-ships on a daily basis. You betcha.