Down 80%, Should Investors Buy the Dip or Avoid Warby Parker Stock?

2022 has been a tough year for the stock market. The S&P 500 is down close to 20% year to date, one of the worst first-half performances in the last 100 years. But if you own recent IPO stocks, the losses have been much worse. The Renaissance IPO ETF is down 47% this year, meaning that if you own a bunch of stocks that recently went public, the value of your portfolio has been cut in half in less than a year. While that's not an enjoyable experience, if you have a long-term time horizon, now is a perfect time to invest in some businesses while they trade at discounted prices.

One intriguing company is Warby Parker (NYSE: WRBY), a disruptive glasses/eyewear company whose shares are down 7% this year. Let's see whether Warby Parker stock is a buy at current prices.