It's almost Friday!
Jim Cramer is breaking down what investors need to know about Casper's IPO, Qualcomm's coronavirus worries and the speculation around the coronavirus.
Let's Start With Casper
The company had its first trade on the New York Stock Exchange Thursday. The stock opened around $14.50 a share.
Casper had priced at the low end of the range, at $12 a share, Wednesday night.
The company had lowered its price range to $12 to $13 from $17 to $19 in an SEC filing earlier this week.
As it prepared to enter the public markets, Casper, which had been thought of as a unicorn (meaning it had a billion-dollar valuation), lowered its valuation to half that, to $500 million.
Another Update on the Coronavirus
Jim Cramer wrote about the coronavirus in his column over on Real Money.
"Can we stop speculating about what's really happening with the coronavirus in China? Can we please put an end to "this might work" and "that's going to solve it," kinds of research? Oh, and when it comes to numbers, I have an idea, trust no one," wrote Cramer.
"Everything is in flux. Every aspect of this illness is dynamic and even the Centers for Disease Control may not be updating correctly. Am I seriously to believe that there are only 11 confirmed positive cases in this entire country as of yesterday when there are 20 on a Carnival Cruise ship off of Yokohama? If that's all there are -- and the CDC site itself seems to lack the most recent case, which makes it twelve -- then we are really wasting our time with this as the numbers from the real flu are far more devastating and the transmission far more lethal."
And, Finally, Qualcomm
They join companies such as Tesla (TSLA) - Get Report, Starbucks (SBUX) - Get Report, Ralph Lauren (RL) - Get Report, Disney (DISNEY) , and Nike (NIKE) to warn about possible impacts from the virus, which has around 60 million people under lockdown in China.
Qualcomm posted stronger-than-expected earnings after the bell Wednesday.
However, the beat was overshadowed by its virus warning.
Qualcomm said that the coronavirus could have a material impact on its near-term profit forecasts and disrupt global smartphone demand and supply chains.
But there’s always a silver lining.
Even if the virus slows the rollout of 5G in China, Qualcomm said its chips will still find demand in markets such as Korea, Japan and the United States.