FVRR - Fiverr International: Bear vs. Bull
2023-05-24 09:15:00 ET
Fiverr International (NYSE: FVRR) , an online marketplace for gig economy workers, went public on June 13, 2019 at $21 per share. Its stock started trading at $26, ended its first day at $39.90, and eventually hit an all-time high of $323.10 on Feb. 12, 2021.
The bulls were initially impressed by Fiverr's robust growth, which accelerated throughout the pandemic as more people accepted freelance and contract jobs. The buying frenzy in meme and growth stocks in early 2021 amplified those gains.
But over the past year, the bulls retreated as Fiverr's growth cooled off in a post-pandemic market. Rising interest rates popped its bubbly valuations, and the bears drove the stock back down to $28. In other words, a $1,000 investment in its IPO would have blossomed to more than $15,000 before withering to about $1,300 today.
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Fiverr International: Bear vs. Bull