Princess & The Pea

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One of the hottest new stocks last year was Purple Innovation, which makes mattresses. Yes, mattresses. It was at lifetime highs only weeks ago, but the breakdown has started.


I would like to suggest this is a fundamental change in the stock’s direction, with that huge price gap being a shield against price ascendency.


Of course, the P/E is almost 400, so I think there’s plenty of room for softness.