Last year was a challenging year to go public. More than a third of the 2019 debutantes closed out the year below their IPO prices, including many of the more prolific companies. Some companies like WeWork didn't even get a chance to hit the market, stumbling on the way to the starting line.
Things have been different for many of last year's laggards in 2020. Uber Technologies (NYSE: UBER), SmileDirectClub (NASDAQ: SDC), and Youdao (NYSE: DAO) are three stocks that closed out 2019 in the red, only to come through with scorching double-digit returns so far this year. Let's see why market sentiment has turned around for these three Wall Street newbies.
Image source: Uber Technologies.