Tech IPOs have been a bad bet in 2021 — all but one are in bear market territory

  • 📰 CNBC
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 72%

United States News News

United States United States Latest News,United States United States Headlines

Of the more than 50 U.S. tech companies to go public this year through an IPO, SPAC or direct listing, only one of them is less than 20% off its high price.

Of the more than 50 U.S. tech companies to go public this year through an IPO, SPAC or direct listing, only one is less than 20% below its high stock price.Metromile has dropped more than 80% from its peak, while Robinhood is off by about 75%.People wait in line for t-shirts at a pop-up kiosk for the online brokerage Robinhood along Wall Street after the company went public with an IPO earlier in the day on July 29, 2021 in New York City.

The recent downdraft in shares of high-valued, high-growth, money-losing businesses has led to an outsized selloff in companies that hit the market in 2021. CNBC identified 55 tech companies that debuted in the U.S. this year through an IPO, special purpose acquisition company or direct listing. Only one of them —That means the rest are in bear market territory, typically defined as a drop of 20% or more from their peak.

Even worse, 23 of those companies have lost half or more of their value since reaching their highs, including

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

ESG blockchain revolution - technological, social, evolutionary: transformation scheme based on the example of the carbon credits market

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

What Jim Cramer is watching in the market Monday, including Rivian, banks and IPOsInvesting Club: What Jim Cramer is watching in the market Monday, including Rivian, banks and IPOs
Source: CNBC - 🏆 12. / 72 Read more »

Donald Trump Taps Congressman Devin Nunes as CEO of His Media and Tech CompanyThe litigious California Republican will retire from the House of Representatives and begin at Trump Media & Technology Group in January. 😂 For all those who are new to this working from home Bitcoin trading options Here's a little tip: Get a trusted Bitcoin expert and stick to her Derrick_Jones39 Invest and play at similar times each day. Because : In times of chaos, your investment is your anchor to success⚖️ DevinNunesCow couldn’t be reached for comment?
Source: THR - 🏆 411. / 53 Read more »