Why These 15 Software Stocks Are Plunging In 2025

12. Ibotta Inc (NYSE:IBTA)

Number of Hedge Fund Holders In Q4 2024: 15

Ibotta Inc (NYSE:IBTA) is a technology company that operates the Ibotta Performance Network (IPN). This is a platform enabling consumer packaged goods brands to deliver digital promotions to over 200 million consumers.

The downward trend began after its initial public offering in April 2024, which marked it as Colorado’s largest tech IPO. However, the stock has struggled to maintain its early momentum.

In its Q4 2024 earnings, released on February 26, 2025, Ibotta reported a 1% year-over-year revenue decline to $98.4 million, missing analyst forecasts. Although full-year 2024 revenue grew 15% to $367.3 million, growth has slowed significantly from prior years, and Q1 2025 guidance projected revenue between $80 million and $84 million, well below the consensus estimate of $90.96 million.

A critical blow came from a March 20, 2025, report by short-seller The Bear Cave. The report cited waning consumer support, severe employee dissatisfaction, strained partner relationships, and allegations of fraud.

IBTA stock is down 40.06% year-to-date.