NOVember 4, 2022
Fewer than a quarter of IPOs since 2018 trade above offering price. Such weak returns reflect overhyped deals for companies with excessive valuations relative to sales and profits.
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20
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60
80
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140 Billion
2022
2014
Proceeds raised from IPOs (billions)
$7.5B
2022 values are through Nov. 4, 2022
Investors looking for opportunities among busted IPOs can start to consider companies with solid balance sheets, such as the following 4.
The shoe maker is losing money but has a solid balance sheet and some franchise value thanks to its distinctive woolly sneakers.
Ticker: BIRD IPO: 2021
Despite operating in the red, the online brokerage has about $7 a share in net cash.
Ticker: HOOD IPO: 2021
The ubiquitous food delivery service has $10 a share in net cash.
Ticker: DASH IPO: 2020
The rideshare company has $3 a share in net cash.
Ticker: LYFT IPO: 2019