All was going just fine for gig economy outfit Upwork (NASDAQ: UPWK) in the months following its late 2018 IPO. Priced at $15 per share, the stock raced nearly 50% higher in its first few months on the market. However, the late 2019 sell-off of small, high-octane upstarts has taken its toll on the freelance workforce marketplace, too, and shares are now trading at less than $10 -- far from the optimistic debut a little more than a year ago.
To be fair, there are good reasons for Upwork's sell-off. However, skepticism is beginning to look overdone to me. I'm a buyer at these levels.
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