Purple Innovation, Inc.’s (NASDAQ:PRPL) 27% Share Price Plunge Could Signal Some Risk
The Purple Innovation, Inc. (NASDAQ:PRPL) share price has fared very poorly over the last month, falling by a substantial 27%. For any long-term shareholders, the last month ends a year to forget by locking in a 61% share price decline.
Even after such a large drop in price, you could still be forgiven for feeling indifferent about Purple Innovation’s P/S ratio of 0.1x, since the median price-to-sales (or “P/S”) ratio for the Consumer Durables industry in the United States is also close to 0.5x. Although, it’s not wise to simply ignore the P/S without explanation as investors may be disregarding a distinct opportunity or a costly mistake.
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