These Are The Ten Worst Performing IPOs Of 2021

Last year, 2021, was a record year for the IPO market with more than 1,000 offerings. According to the data from Dealogic, these deals raised a record $315 billion last year. However, a record year is no guarantee that the debuting companies will continue to enjoy the confidence of investors. In fact, many big names that debuted last year are now trading in the red. Let’s take a look at the ten worst performing IPOs of 2021.

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Ten Worst Performing IPOs Of 2021

We have ranked the ten worst performing IPOs of 2021 on the basis of their past three months return data. We are using the past three months data because it gives the return of mostly all companies that debuted last year. For our list, we have only considered stocks with a market cap of more than $2 billion. Following are the ten worst performing IPOs of 2021:

10. Doximity (-16%)

Founded in 2010 and headquartered in San Francisco, it is an online platform for medical professionals. Doximity Inc (NYSE:DOCS)’s cloud-based software allows users to collaborate with colleagues, conduct virtual patient visits, get the latest medical news and research, and more. Its shares are up over 20% YTD and over 31% in the last one month. Doximity posted revenue of more than $206 million in 2021 and over $116 million in 2019.

9. Confluent (-18%)

Founded in 2014 and headquartered in Mountain View, Calif., this company develops a real-time data platform for organizations. Confluent Inc (NASDAQ:CFLT) provides confluent platforms, KSQL and Confluent hub products. Its shares are down almost 4% YTD but are up over 12% in the last one month. Confluent posted revenue of more than $230 million in 2020 and over $149 million in 2019.

8. Olaplex Holdings (-21%)

Founded in 2021 and headquartered in Santa Barbara, Calif., this company makes and retails hair care products. Olaplex Holdings Inc (NASDAQ:OLPX) was primarily formed for concluding the public offering and related transactions of Penelope Holdings. Its shares are down almost 28% YTD and almost 8% in the last one month. Olaplex Holdings posted revenue of more than $280 million in 2020 and over $148 million in 2019.

7. Applovin (-24%)

Founded in 2011 and headquartered in Palo Alto, Calif., this company develops and operates a mobile marketing platform. Its product list includes AppDiscovery, MAX, and SparkLabs. Applovin Corp (NASDAQ:APP)’s platform helps mobile app developers to improve the marketing and monetization of their apps. Its shares are down over 23% YTD and over 8% in the last one month. Applovin posted revenue of more than $1.40 billion in 2020 and over $990 million in 2019.

6. Roblox (-27%)

Founded in 2004 and headquartered in San Mateo, Calif., this company offers online gaming services. Roblox Corp (NYSE:RBLX)’s platform includes the Roblox Studio, the Roblox Cloud and the Roblox Client. Its shares are down over 35% YTD and over 11% in the last one month. Roblox posted revenue of more than $920 million in 2020 and over $500 million in 2019.

5. UiPath (-34%)

Founded in 2005 and headquartered in New York, this company develops software platforms to automate business processes. UiPath Inc (NYSE:PATH) focuses on offering claims processing automation, accounts payable automation and other services. Its shares are down over 14% YTD but are up almost 1% in the last one month. UiPath posted revenue of more than $600 million in 2021 and over $330 million in 2020.

4. SentinelOne (-34%)

Founded in 2013 and headquartered in Palo Alto, Calif., this company deals in endpoint security software that detects, predicts and models threat behavior to block hacking attempts. SentinelOne Inc (NYSE:S) offers vigilance, support, and training services. Its shares are down over 8% YTD but are up almost 9% in the last one month. SentinelOne posted revenue of more than $93 million in 2021 and over $46 million in 2020.

3. Coinbase Global (-38%)

Founded in 2012 and headquartered in San Francisco, it works as a secure hosted bitcoin wallet to buy and use Bitcoin. Coinbase Global Inc (NASDAQ:COIN) offers merchant tools that allow companies to easily accept payments in Bitcoin. Its shares are down almost 19% YTD and almost 11% in the last one month. Coinbase Global posted revenue of more than $1.20 billion in 2020 and over $550 million in 2019.

2. Toast (-44%)

Founded in 2011 and headquartered in Boston, this company develops consumer payment applications for restaurants. Toast Inc (NYSE:TOST) makes available guest facing displays, terminals, kiosk and system accessories. Its shares are down over 20% YTD but are up over 10% in the last one month. Toast posted revenue of more than $820 million in 2021 and over $665 million in 2020.

1. Robinhood Markets (-61%)

Founded in 2013 and headquartered in Menlo Park, Calif., it is a financial services platform that allows users to invest in stocks, ETFs, gold, cryptocurrencies and options. Robinhood Markets Inc (NASDAQ:HOOD) is a pioneer in commission-free stock trading. Its shares are down almost 24% YTD and almost 11% in the last one month. Robinhood posted revenue of more than $1.80 billion in 2021 and over $950 million in 2020.