Shares in one of the biggest competitors in the freelance marketplace continue to dwindle despite the growth of this flexible working population.
Upwork has seen its shares trade down -52.6% on the year. However, this comes as the global freelancer population is expected to skyrocket to 500 million by 2030 and the company expanding its enterprise client portfolio.
While the company is showing signs of growth internally, the disappointing stock prices may come as an overall apathetic response to other freelance marketplace firm Fiverr, whose shares are down -70% on the year.
On the surface, this could spell trouble for both companies. But it could also become a bargain stock for investors looking to get ahead of the clear trend towards distributed, flexible and agile work models.