Some of the most highly touted New York tech unicorns are getting the cold shoulder from Wall Street, despite a record-setting year for local firms going public.
Take Oscar Health. The SoHo-based technology disruptor to health insurance has seen its share price fall nearly 80% from its $39 initial public offering price in March. The company’s $1.9 billion market cap is well below its last-known private market value of $3.2 billion in 2018, back when Google parent company Alphabet, Joshua Kushner’s Thrive Capital and Peter Thiel’s Founders Fund were betting big on the company’s future.
Oscar’s grouchy debut is on the extreme side but not off-brand for this
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