Funko products have a cult following around the globe. In effect, they are more than just toys -- they are pop culture collectibles. TheStreet talks with Funko CEO Brian Mariotti about the company's future now that it's a public company.
Funko's (FNKO) first day of trading wasn't fun. But, its future may very well be.
Shares of the collectible toy maker fell nearly 40% on their first day of trading on the Nasdaq Thursday. CEO Brian Mariotti told TheStreet investors may not have fully got the company's story during the roadshow. They could be missing an opportunity.
Funko, mostly known for making whimsical mini vinyl and plush figures based on popular characters ranging from Star Wars to '80s cult TV show "Golden Girls", expects sales to reach $1 billion a year within the next five years. In 2016, Funko's sales clocked in at $427 million, up 97% from the prior year, in large part powered by a vast portfolio of 10,000 licensed characters. Adjusted earnings before interest, taxes, depreciation and amortization rose 56% to $97 million. E-commerce sales for Funko -- which has been in business since 1998 -- rose about 17% from a year ago to $35 million.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
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