Topic: How To Invest

Q: Pat, I buy my eyeglasses from Warby Parker. What do you think of the stock? Thanks for all the advice.

Article Excerpt

A: Warby Parker Inc., $12.94, symbol WRBY on New York (Shares outstanding: 95.3 million; Market cap: $1.5 billion; www.warbyparker.com), is a prescription eyewear seller founded in 2010 by four friends attending business school who had a vision to disrupt the traditional eyewear industry. As part of that, the company began as an online-only operation, but now also runs 169 physical stores in the U.S. and Canada. It has expanded its product lines to include sunglasses and children’s frames. Warby Parker went public in September 2021 through a direct listing on the New York Stock Exchange. Its stock opened for trading at $54.05, well above the $40 reference price set by the exchange. In a direct listing, the company issues no new shares and raises no funds through the IPO. The shares have since dropped steadily to today’s price. The company’s venture capital investors included General Catalyst, Tiger Global Management, Forerunner Ventures, Spark Capital and Menlo Ventures. Warby Parker sells low-cost prescription eyeglasses and…

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