In 2022, tech stocks were all over the place. Companies that made their markets debuts in 2021 have suffered the most severe effects of the downdraft.

CNBC has 53 technology-related companies in its database that were either IPOs, direct listings or IPOs last year. Three of these tech-related companies are currently trading at or below the offer price or opening price.

At least half of all tumbled below 50%. Some of the biggest names in trading, such as apps for trading, are included. CoinbaseAnd RobinhoodMaker of electric cars RivianCloud software vendors UiPathCompanies in fin-tech MarqetaAnd Toast. All of them have lost more than 60% of their worth.

Soaring inflation and fears of rising interest rates caused investors to sell off the most risky assets at the highest multiples. This led to a market correction that began late last year. Following Russia’s invasion, panic-selling began last week. The market had digested comments from the Federal Reserve. half-point increaseTo its benchmark interest rate.

The Nasdaq dropped 4.3% MondayThe index closed at its lowest point since November 2020. Tech-heavy Index closed Friday at its lowest level since November 2020. fifth straight weekly declineThis is the longest streak of losses since 2012

The IPO market is the least attractive option for investors at the moment. The new issue market has been quiet for four months and more, so nothing noteworthy is scheduled for the remainder of the quarter.

The majority of companies that had hoped to exit in 2022’s first half have decided not to pursue that goal. This is because they raised venture funding at values that were comparable to the current market. Tech was in the tail of a decade-long rally. Today’s public offering would mean a total revaluation and many employees and investors at late stages of the business.

Instacart, a grocery delivery company is the only one in this class to have publicly paid its taxes. In March, company saidIt reduced its value by 40% to $24 Billion. This allows Instacart’s employees to inform recruits and their staff that future stock awards will come at a lower cost.

This reduction, however, may not be enough to reflect investor sentiment on that part of tech market which has for decades been the best.

Nearly 60% of the 52-week September high for Renaissance IPO ETF is now gone. It dropped 9.7% Monday to 19.%, following a May dip of 11%.

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