Lyft's market debut offers something of a gut check for Uber, Slack and Pinterest.
Shares of Lyft sank almost 12 percent Monday, falling below the stock's IPO price in its second day of trading on the public market.
"Falling below its IPO price is a gut punch for investors and Lyft," Wedbush managing director Dan Ives said in a statement to CNBC."This is a pivotal few weeks of trading ahead to gauge Street demand for the name as valuation and profitability continue to be the wild cards for tech investors."
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