These were the 10 worst performing IPOs of 2021 amid a record year for stock market debuts

• 2021 was a record year for IPOs, with 2,388 new companies listing their shares around the globe.
• The red-hot IPO market this year occurred amid a relentless grind higher in the broader stock market.
• But some IPOs didn't participate in the gains. These are the 10 worst performing IPOs of 2021.

Record highs in the stock market have facilitated a boom in new company listings this year, with a record 2,388 firms going public around the globe, according to data from Ernst and Young.

Helping drive a resurgence in new company listings were SPACs, which peaked in early 2021 after a surge last year. Altogether, companies have raised $453 billion in proceeds from their IPOs, representing a 67% increase relative to 2020 and a more than doubling from 2019 levels.

Firms going public have predominately been in the technology sector, and the Nasdaq Exchange captured the most IPOs relative to other global stock exchanges. High profile IPOs this year include electric vehicle startups Rivian and Lucid Group, and direct-to-consumer brands Allbirds and Warby Parker.

With more than 900 IPOs this year on US exchanges alone, there have been plenty of big losers.

These are the 10 worst performing US IPOs of 2021 of companies with at least a $1 billion market capitalization. All performance data is as of December 16 and was sourced from Koyfin. (However, the chart action shown below reflects performance based on the opening price of a stock on its first day of trades, not its IPO price.)

10. Poshmark

Ticker: POSH
Loss Since IPO Price: -57%
Market Capitalization: $1.4 billion

9. Blend Labs

Ticker: BLND
Loss Since IPO Price: -60%
Market Capitalization: $1.7 billion

8. InnovAge Holding

Ticker: INNV
Loss Since IPO Price: -61%
Market Capitalization: $1.1 billion

7. Riskified

Ticker: RSKD
Loss Since IPO Price: -63%
Market Capitalization: $1.3 billion

6. Missfresh Limited

Ticker: MF
Loss Since IPO Price: -65%
Market Capitalization: $1.1 billion

5. loanDepot

Ticker: LDI
Loss Since IPO Price: -68%
Market Capitalization: $1.4 billion

4. RLX Technology

Ticker: RLX
Loss Since IPO Price: -69%
Market Capitalization: $5.0 billion

3. Tuya

Ticker: TUYA
Loss Since IPO Price: -70%
Market Capitalization: $3.5 billion

2. Oscar Health

Ticker: OSCR
Loss Since IPO Price: -78%
Market Capitalization: $1.8 billion

1. Bright Health Group

Ticker: BHG
Loss Since IPO Price: -79%
Market Capitalization: $2.4 billion