00:00Aura was hours away from pricing its IPO. Then the smart ring maker called the entire thing off.
00:05The company blamed uncertainty in the market, but Wall Street experts aren't convinced that
00:10that's the entire story. Analysts I spoke to were concerned about the valuation for Aura.
00:16They said investors have a long memory and could be comparing Aura to other single product consumer
00:23hardware companies. Think GoPro or Peloton. Those companies also had lofty, optimistic projections,
00:30but their stocks ultimately plummeted since then. Another big reason is competition. Aura could be
00:36going up against these massive tech companies. Think Apple and Google in the wearables market.
00:42Apple doesn't have a smart ring on the market yet, but if it did, analysts told me that it could
00:47potentially make Aura's business non-existent. In terms of what's next, CEO Tom Hale has said the
00:53company has, quote, the luxury of choosing its moment when it comes to going public. He has said
00:58that the company is extremely profitable, demand is great, that they're in a great position. But when
01:04I reached out to the company for comment, they declined to say when their IPO plans would actually
01:09continue. For more on Aura, you can check out my full article on fortune.com.
