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IPO Roundup: Beyond Meat leads the pack half-way through 2019, Lyft struggles after quick takeoff

A look at the biggest IPO winners and losers of 2019

Beyond Meat Products
The maker of plant-based meat alternatives opened at $46 per share and by the end of its first day had rocketed to $65.75

The year 2019 has seen 72 IPOs as the year approaches the halfway mark, and some have been more profitable than others. Some, like Beyond Meat (NASDAQ:BYND) are sizzling, while others, like Lyft (NASDAQ:LYFT), have been stuck in the mud.

Winners

Beyond Meat Inc has been by far the biggest winner of the year. The maker of plant-based meat alternatives priced 9.6 million shares at $25. It opened at $46 per share and by the end of its first day had ballooned to $65.75. The El Segundo, California company sells faux burgers, sausage and ground beef to grocery stores and restaurants around the country. 

Since its $241 million May 2 debut, its share price has increased more than sixfold to $160.68.

ShockWave Medical Inc (NASDAQ:SWAV), a Santa Clara, California medical device maker, has seen its stock more than triple since its $97 million March 7 IPO. Founded in 2009, the company sells various types of catheters for treating coronary artery disease. It priced at $17, opened at $24.80 and hit $50 within two months.

All told, the stock has more than tripled to $57.09.

READ: IPO Roundup: Fashion retailer The RealReal, biopharma Karuna Therapeutics hit the ground running

Zoom Video Communications Inc (NASDAQ:ZM), the cloud-based video and web conferencing company, raced to a $751 million IPO on April 18, pricing 20.9 million shares at $36 per share. At the time of its public debut, the San Jose, California-based company had booked $331 million in sales over the preceding 12 months

Trading opened at $65 and has accelerated to $88.79, roughly 2.5 times its IPO price.

Silk Road Medical Inc (NASDAQ:SILK) made a $120 million debut on April 4, and its stock is trading about 2.5 times higher nearly three months later. The California medical technology company develops and manufactures proprietary medical devices for carotid artery disease patients who suffer stroke, or brief stroke-like attacks. After pricing at $20, trading opened at $33.15.

The stock jumped 142% to $48.46.

Adaptive Biotechnologies Corporation (NASDAQ:ADPT), an immunology company based in Seattle, has more than doubled its share price in its first days of trading. The Seattle-based company provides genetic immuno-sequencing tests used to diagnose and treat diseases such as cancer, autoimmune conditions and infectious diseases. 

After pricing at $20 on June 27, the stock rocketed to $48.30.

Revolve Group Inc (NASDAQ:RVLV), the influencer-driven millenial and gen-z fashion retailer is off to a rapid start. The Cerritos, California company raised $212 million after pricing at $18 per share on June 7, and in two weeks its share price has more than doubled.

Trading opened at $25.16, and shares are trading at nearly double its IPO price, up to $34.50.

Losers

Ruhnn Holding Ltd (NASDAQ:RUHN) a Chinese e-commerce platform used by internet celebrities to sell fashion-forward items, has thus far been the biggest loser of 2019. The company priced at $12.50 per share, raising $125 million in an IPO on April 2, but things have trended downhill ever since. Trading opened at $11.50, and slipped lower week after week.

Twelve weeks later, the stock is trading at about a quarter of its original value, dropping 72% to $3.44.

Guardion Health Sciences Inc (NASDAQ:GHSI), which sells medical food and devices for retinal diseases, has struggled to find its footing since its $5 million public debut on April 5. The San Diego, California-based company priced at $4 but only managed to open at $3.82.

It hasn’t gotten better, as shares have dropped to $1.26, about one third of the IPO price.

Mohawk Group Holdings Inc (NASDAQ:MWK) stumbled out of the gate. The New York AI-driven consumer products company has seen its share price dwindle since its $36 million IPO on June 12. The company priced and opened trading at $10, and investors have looked elsewhere ever since.

In less than two weeks, the stock has fallen nearly 20% to $8.07.

New Fortress Energy LLC (NASDAQ:NFE), a liquified natural gas company, went public with a $280 million IPO on January 31, pricing at $14 per share. The New York company posted a loss of $43.4 million in the first nine months of 2018, and investors took note as the stock opened at $13.25, which was lower than its listing price.

The stock has slipped 16% to $11.71.

Lyft Inc hit the gas early, opening at $87.33, well above its IPO price of $72. The San Francisco company raised $2.3 billion on March 29, and things looked rosy. Then the wheels started to come off for the ride-sharing company. Its chief rival Uber struggled in its own IPO, and its share price dipped as low as $47.17.

The company has made back some ground, but is trading more than 8% lower at $65.71.

Contact Andrew Kessel at [email protected]

Follow him on Twitter @andrew_kessel

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