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Is Purple Stock a Buy?

TheMotleyFool

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Of the market-crushing stocks in 2020, mattress company Purple Innovation (NASDAQ: PRPL) is relatively unknown. The company went public in 2018 via a special purpose acquisition company (SPAC) -- before it was cool. Over the next two years, the stock traded in a tight range before tanking with the market in March, crashing below $5 per share.

But everything has changed since then. Purple stock is up roughly seven times in value from those March lows and hitting all-time highs as of this writing. Could it still be a good stock to buy?

Image source: Purple Innovation.

Source Fool.com

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