Side Hustle Apps: A Mixed Bag for Investors and Gig Workers

Side hustle apps provide easy income opportunities. However, investing in their stock has led to diverse outcomes, with companies like Maplebear showing promise while Ibotta underperforms. Investors should assess potential returns carefully in this evolving market.

Date: 01-02-2025

AI Rating: 6

Stock Performance Overview: The report comprehensively discusses the performance of various side hustle apps that are publicly traded. It highlights the significant differences in investment returns across different companies.

Maplebear (CART): The stock was listed on Sept. 18, 2023, with an IPO price of $30 and a subsequent price of $45.99 on Jan. 24, 2025, indicating a robust upward move with a return of 53.3%. This strong performance reflects positively on investor confidence, suggesting strong demand and profitability potential.

Ibotta (IBTA): In contrast, Ibotta shows a negative return of -15.2% from its IPO price of $88. This negative growth may deter potential investors, indicating that the company is struggling to maintain its market position, which could be due to increased competition or other market dynamics.

Uber (UBER): Uber's stock has experienced significant gains, with a staggering return of 86.3% since the investment date in 2020. Its established market presence and expansion into various delivery services have evidently bolstered its appeal among investors.

Lyft (LYFT): Conversely, Lyft has a dismal return of -71.5%, showcasing a bleak performance compared to its main competitor, Uber. This stark contrast in growth suggests that Lyft may need to reevaluate its strategic direction and operational efficiency to regain investor trust.

Fiverr (FVRR): Fiverr has achieved a more modest return of 20%. Despite being lower than other stocks mentioned, it remains a viable option for investors; however, it's worth noting that its stock rose dramatically to over $300 in 2021 and has since declined significantly, which could leave many shareholders at a loss.

In summary, the report indicates varied performances across side hustle stocks. While companies like Maplebear and Uber demonstrate strong returns, others like Ibotta and Lyft may negatively impact investor sentiment significantly.

Stocks: CART IBTA UBER LYFT FVRR