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The Uber banner hangs outside of the New York Stock Exchange in 2019. Photo: Spencer Platt/Getty Images
After being on pace to beat the overall market earlier this year, Reuters' April Joyner reports that a Reuters analysis finds "[u]nprofitable U.S. companies holding IPOs this year have had a median stock return of 0%."
Between the lines: This is likely because Beyond Meat is now profitable and its 228% stock increase this year is no longer counted among the returns of unprofitable companies.
- Adding to that, companies like Lyft, Uber, Peloton and Slack have floundered on the public market.
- Unprofitable IPOs have beaten the market about 47% of the time, according to Bloomberg.
On the other side: Apple shares have surged 62% year-to-date, Microsoft stock is up 41%, and the overall S&P tech sector index has risen 36% YTD.