A reckoning for tech: 2020-21 IPOs Coinbase, DoorDash, Bumble, Wish, and Coupang record all-time low stock prices this week – #stocks chatter

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A reckoning for tech: 2020-21 IPOs Coinbase, DoorDash, Bumble, Wish, and Coupang record all-time low stock prices this week
6 of the biggest COVID tech IPOs including Airbnb, in 4 different categories (crypto, gig economy, app economy, and e-commerce), all crashed in the last few weeks following stellar IPO performances. Mkt caps in brackets.

* COIN sunk from its ATH of 342 to 265 (\~50B) after narrowly missing earnings expectations today. At one point on the day of its IPO, retail traders were lapping up COIN for as much as $**429**. I will note though that BTC crashed yday for those unaware. As if ARKK bagholders weren't hurting enough!
* DASH crashed from its ATH of $215 in late Feb to $113 ($35B+) after reporting a bigger-than-expected loss today.
* BMBL halved from its $80 ATH to $40 (4.67B) after beating expectations yday.
* WISH crashed from its ATH of 31.19 to 8.11 after earnings yday (5.02B).
* CPNG is down from its ATH of 50.45 to 32.04 after reporting a higher than expected adjusted loss yday.
* ABNB crashed from $180 on Apr 28 to $133 after-hours today, down from its ATH of $217 on Feb 11 and up from its ATL of $125. The company announced today that their net loss tripled.

The one newly IPOd tech company that seems to have weathered the storm is Roblox, which reported great earnings.

But it's not just tech companies that IPOd in 2020-2021. 2019 IPOs Lyft, Uber, Pinterest, and Snap - which, except for Lyft, all reached their ATHs during COVID - saw significant gains during the pandemic, have also crashed since the end of April.

* LYFT tanked from 63.40 on Apr 28 to 46.02 today. Previously, Lyft dipped below $23 (ATH is close to $80) three times during COVID, most recently in Oct.
* In the same time period, UBER crashed from $58 to $44.
* PINS is down from 77.58 to 55.45 since Apr 27.
* SNAP dipped below $50 from 70.45 from Feb 23 to Mar 29 and is trading at 50 again today.

These companies aren't just sliding in after-hours or on the day after reporting earnings, we're looking at a prolonged downward trend either preceding earnings for the companies that reported this week and following earnings for those that reported in the previous weeks.
https://www.reddit.com/r/StockMarket/comments/nbxbby/a_reckoning_for_tech_202021_ipos_coinbase/

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