Virtually every corner of the stock market had a horrible 2022, including initial public offerings.
The Renaissance IPO ETF (IPO) , which tracks the performance of newly-public companies, plunged 57% in 2022, notching its biggest one-year decline on record.
Total proceeds from new companies going public dropped more than $7 billion in 2022, reaching their lowest level since at least 2013, Renaissance data showed.
Despite a sluggish year for IPOs, analysts see big gains ahead for some stocks that started trading in 2022.
CNBC Pro combed through the 2022 IPOs for companies covered by at least seven analysts, with the average price target implying upside of at least 15%.