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The Worst Performing U.S. IPOs of 2023

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See this visualization first on the Voronoi app.

The Worst Performing U.S. IPOs of 2023

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.

CompanySectorTickerReturn (%)
U Power LimitedEnergyUCAR-97
Lucy Scientific DiscoveryHealthcareLSDI-94
MangoceuticalsHealthcareMGRX-93
Surf Air MobilityTransportationSRFM-92
Hanryu HoldingsMediaHRYU-92
VS Media HoldingsMediaVSME-92
Warrantee Inc.Financial ServicesWRNT-92
The NFT Gaming CompanyMediaNFTG-92
Inspire Veterinary PartnersHealthcareIVP-92
MGO GlobalFashionMGOL-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.

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Mapped: The World’s Least Affordable Housing Markets in 2024

See which housing markets are considered ‘impossibly unaffordable’ according to their median price-to-income ratio.

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The World’s Least Affordable Housing Markets in 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.

Many cities around the world have become very expensive to buy a home in, but which ones are the absolute most unattainable?

In this graphic, we highlight a number of housing markets that are deemed to be “impossibly unaffordable” in 2024, ranked by their median price-to-income ratio.

This data comes from the Demographia International Housing Affordability Report, which is produced by the Chapman University Center for Demographics and Policy.

Data and Key Takeaway

The median price-to-income ratio compares median house price to median household income within each market. A higher ratio (higher prices relative to incomes) means a city is less affordable.

See the following table for all of the data we used to create this graphic. Note that this analysis covers 94 markets across eight countries: Australia, Canada, China, Ireland, New Zealand, Singapore, the United Kingdom, and the United States.

RankMetropolitan MarketCountryMedian price-to-income
ratio
1Hong Kong (SAR)🇨🇳 China16.7
2Sydney🇦🇺 Australia13.8
3Vancouver🇨🇦 Canada12.3
4San Jose🇺🇸 U.S.11.9
5Los Angeles🇺🇸 U.S.10.9
6Honolulu🇺🇸 U.S.10.5
7Melbourne🇦🇺 Australia9.8
8San Francisco🇺🇸 U.S.9.7
9Adelaide🇦🇺 Australia9.7
10San Diego🇺🇸 U.S.9.5
11Toronto🇨🇦 Canada9.3
12Auckland🇳🇿 New Zealand8.2

According to the Demographia report, cities with a median price-to-income ratio of over 9.0 are considered “impossibly unaffordable”.

We can see that the top city in this ranking, Hong Kong, has a ratio of 16.7. This means that the median price of a home is 16.7 times greater than the median income.

Which Cities are More Affordable?

On the flipside, here are the top 12 most affordable cities that were analyzed in the Demographia report.

RankMetropolitan MarketCountryMedian price-to-income
ratio
1Pittsburgh🇺🇸 U.S.3.1
2Rochester🇺🇸 U.S.3.4
2St. Louis🇺🇸 U.S.3.4
4Cleveland🇺🇸 U.S.3.5
5Edmonton🇨🇦 Canada3.6
5Buffalo🇺🇸 U.S.3.6
5Detroit🇺🇸 U.S.3.6
5Oklahoma City🇺🇸 U.S.3.6
9Cincinnati🇺🇸 U.S.3.7
9Louisville🇺🇸 U.S.3.7
11Singapore🇸🇬 Singapore3.8
12Blackpool & Lancashire🇬🇧 U.K.3.9

Cities with a median price-to-income ratio of less than 3.0 are considered “affordable”, while those between 3.1 and 4.0 are considered “moderately unaffordable”.

See More Real Estate Content From Visual Capitalist

If you enjoyed this post, be sure to check out Ranked: The Most Valuable Housing Markets in America.

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