Looking back over nearly a decade of market activity, bitcoin has experienced remarkable growth, soaring from a modest $310 in 2014 to its current valuation of $35,000. Against this backdrop, several companies have experienced mixed fortunes since their initial public offerings (IPOs).
Zendesk (NYSE: ZEN), which started in Copenhagen before becoming a major tech player in San Francisco, has seen its stock price fluctuate since going public. Starting at $16.36 per share at its IPO, Zendesk hit an all-time high of $151 in February 2021. As of mid-November, the company’s stock has settled at a stable $77.48.
In contrast, food delivery service GrubHub (NYSE: GRUB) has faced challenges, with its share price falling from an IPO value of $35.76 to just $3.08 recently. The company’s decline has been attributed to increased competition from rivals such as Uber (NYSE:UBER) Eats and DoorDash (NASDAQ:DASH), especially during the COVID-19 pandemic.
Other companies that went public around the same time had varying degrees of success:
TriNet (NYSE: TNET) capitalized on the HR outsourcing trend, with its stock price rising from an opening price of $21.31 to a robust $112.
Alibaba (NYSE: BABA), despite a strong start at $93 per share, fell to just $84 by mid-November.
HealthEquity (NASDAQ: HQY) benefited from the growing need for health savings accounts, with its stock rising from an IPO price of $16.95 to values in the mid-$60s.
LendingClub (NYSE: NYSE:LC) saw a dramatic drop from over a hundred dollars a share to just over five dollars.
Paycom (NYSE:PAYC) made strategic moves into online payment processing, sending its stock from around fifteen dollars at the IPO to nearly two hundred dollars recently.
GoPro (NASDAQ:GPRO) shares have fallen sharply over time and are currently trading close to three dollars.
The performance of these companies illustrates the unpredictable nature of public markets and highlights the significant impact that market trends and competitive dynamics can have on stock valuations over time.
