Markets
The Worst Performing U.S. IPOs of 2023
See this visualization first on the Voronoi app.
The Worst Performing U.S. IPOs of 2023
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
In 2023, there were 154 IPOs on the U.S. stock market.
This graphic highlights the worst U.S. Initial Public Offerings, ranked by their percentage return as of December 29, 2023, based on data from Stock Analysis.
Companies That Tanked the Hardest in 2023
The list of worst IPOs is led by U Power. The Chinese EV battery company experienced highs of 1,100% at one point during its Nasdaq-listed IPO before plummeting due to regulatory restrictions in China.
Company | Sector | Ticker | Return (%) |
---|---|---|---|
U Power Limited | Energy | UCAR | -97 |
Lucy Scientific Discovery | Healthcare | LSDI | -94 |
Mangoceuticals | Healthcare | MGRX | -93 |
Surf Air Mobility | Transportation | SRFM | -92 |
Hanryu Holdings | Media | HRYU | -92 |
VS Media Holdings | Media | VSME | -92 |
Warrantee Inc. | Financial Services | WRNT | -92 |
The NFT Gaming Company | Media | NFTG | -92 |
Inspire Veterinary Partners | Healthcare | IVP | -92 |
MGO Global | Fashion | MGOL | -91 |
The list of worst performing IPOs in 2023 also includes:
- Lucy Scientific Discovery, an early-stage psychotropics company
- Mangoceuticals, an online retailer of erectile dysfunction treatments
- Surf Air, an electric aviation company focused on regional air travel
- Hanryu Holdings, which owns “Fantoo”, an online platform designed for fandom communities
Best IPOs
On the other hand, the list of best IPOs is headed by Jin Medical, a Cayman Islands holding company that owns Chinese manufacturers of wheelchairs. The company emerged as the highest-performing IPO in 2023, despite facing delisting from the Nasdaq for failing to meet a listing rule requiring the firm to have at least 300 public holders.
While four of the top 10 IPOs were in the healthcare sector, three were in financial services, two in technology, one in food and beverage, and the other in the energy sector.
The 154 IPOs on the US stock market in 2023 represented a 15% decrease compared to the 181 IPOs in 2022, and an 85% decline from the all-time record number of 1,035 IPOs in 2021.
Markets
Mapped: Europe’s GDP Per Capita, by Country
Which European economies are richest on a GDP per capita basis? This map shows the results for 44 countries across the continent.
Mapped: Europe’s GDP Per Capita, by Country (2024)
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
Europe is home to some of the largest and most sophisticated economies in the world. But how do countries in the region compare with each other on a per capita productivity basis?
In this map, we show Europe’s GDP per capita levels across 44 nations in current U.S. dollars. Data for this visualization and article is sourced from the International Monetary Fund (IMF) via their DataMapper tool, updated April 2024.
Europe’s Richest and Poorest Nations, By GDP Per Capita
Luxembourg, Ireland, and Switzerland, lead the list of Europe’s richest nations by GDP per capita, all above $100,000.
Rank | Country | GDP Per Capita (2024) |
---|---|---|
1 | 🇱🇺 Luxembourg | $131,380 |
2 | 🇮🇪 Ireland | $106,060 |
3 | 🇨🇭 Switzerland | $105,670 |
4 | 🇳🇴 Norway | $94,660 |
5 | 🇮🇸 Iceland | $84,590 |
6 | 🇩🇰 Denmark | $68,900 |
7 | 🇳🇱 Netherlands | $63,750 |
8 | 🇸🇲 San Marino | $59,410 |
9 | 🇦🇹 Austria | $59,230 |
10 | 🇸🇪 Sweden | $58,530 |
11 | 🇧🇪 Belgium | $55,540 |
12 | 🇫🇮 Finland | $55,130 |
13 | 🇩🇪 Germany | $54,290 |
14 | 🇬🇧 UK | $51,070 |
15 | 🇫🇷 France | $47,360 |
16 | 🇦🇩 Andorra | $44,900 |
17 | 🇲🇹 Malta | $41,740 |
18 | 🇮🇹 Italy | $39,580 |
19 | 🇨🇾 Cyprus | $37,150 |
20 | 🇪🇸 Spain | $34,050 |
21 | 🇸🇮 Slovenia | $34,030 |
22 | 🇪🇪 Estonia | $31,850 |
23 | 🇨🇿 Czech Republic | $29,800 |
24 | 🇵🇹 Portugal | $28,970 |
25 | 🇱🇹 Lithuania | $28,410 |
26 | 🇸🇰 Slovakia | $25,930 |
27 | 🇱🇻 Latvia | $24,190 |
28 | 🇬🇷 Greece | $23,970 |
29 | 🇭🇺 Hungary | $23,320 |
30 | 🇵🇱 Poland | $23,010 |
31 | 🇭🇷 Croatia | $22,970 |
32 | 🇷🇴 Romania | $19,530 |
33 | 🇧🇬 Bulgaria | $16,940 |
34 | 🇷🇺 Russia | $14,390 |
35 | 🇹🇷 Türkiye | $12,760 |
36 | 🇲🇪 Montenegro | $12,650 |
37 | 🇷🇸 Serbia | $12,380 |
38 | 🇦🇱 Albania | $8,920 |
39 | 🇧🇦 Bosnia & Herzegovina | $8,420 |
40 | 🇲🇰 North Macedonia | $7,690 |
41 | 🇧🇾 Belarus | $7,560 |
42 | 🇲🇩 Moldova | $7,490 |
43 | 🇽🇰 Kosovo | $6,390 |
44 | 🇺🇦 Ukraine | $5,660 |
N/A | 🇪🇺 EU Average | $44,200 |
Note: Figures are rounded.
Three Nordic countries (Norway, Iceland, Denmark) also place highly, between $70,000-90,000. Other Nordic peers, Sweden and Finland rank just outside the top 10, between $55,000-60,000.
Meanwhile, Europe’s biggest economies in absolute terms, Germany, UK, and France, rank closer to the middle of the top 20, with GDP per capitas around $50,000.
Finally, at the end of the scale, Eastern Europe as a whole tends to have much lower per capita GDPs. In that group, Ukraine ranks last, at $5,660.
A Closer Look at Ukraine
For a broader comparison, Ukraine’s per capita GDP is similar to Iran ($5,310), El Salvador ($5,540), and Guatemala ($5,680).
According to experts, Ukraine’s economy has historically underperformed to expectations. After the fall of the Berlin Wall, the economy contracted for five straight years. Its transition to a Western, liberalized economic structure was overshadowed by widespread corruption, a limited taxpool, and few revenue sources.
Politically, its transformation from authoritarian regime to civil democracy has proved difficult, especially when it comes to institution building.
Finally, after the 2022 invasion of the country, Ukraine’s GDP contracted by 30% in a single year—the largest loss since independence. Large scale emigration—to the tune of six million refugees—is also playing a role.
Despite these challenges, the country’s economic growth has somewhat stabilized while fighting continues.
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