Lyft's market debut offers something of a gut check for Uber, Slack and Pinterest.
Shares of Lyft tumbled Monday, trading more than 4 percent down premarket, after a mild market debut last week.
div > div.group > p:first-child"> The ride-hailing company is the first of a heavyweight class of tech companies to go public this year. The stock jumped as much as 23 percent in its opening day Friday before settling to a 9 percent gain. The company had a market cap of about $22 billion Friday. Lyft's market debut offers something of a gut check for Uber, Slack and Pinterest — all tech behemoths set to IPO this year. The company lost more than $900 million in 2018, according to its regulatory filings, and carries"too many big assumptions" for success according to analysts at Guggenheim.
Shares of Lyft were set to open below $79 Monday, almost $10 shy of its Friday intraday high of $88.60. The stock sold at an initial IPO price of $72 in an oversubscribed offering.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Lyft falls below IPO price on its second day of tradingShares of Lyft traded as low as $69.12 a share on Monday, its second day of trading. That's more than 20 percent below its Friday intraday high of $88.60.
Lire la suite »
How IPOs From Uber, Airbnb And Others Could Create A $230 Billion Windfall And 6,000 New Millionaires6,000 is a rough guess of just how many millionaires will be part of this next tech IPO wave.
Lire la suite »
In market debut, Lyft counters Uber with 'nice guy' imageLyft Inc has been challenging larger ride-hailing rival Uber Technologies Inc fo...
Lire la suite »
Will Lyft and Uber make ‘car cutting’ the new cord cutting?Lyft’s IPO may help investors’ portfolios, but ride-sharing may hurt when it comes to traffic congestion.
Lire la suite »
Early Lyft investor Ben Horowitz picked it over Uber because 'character and culture' was betterLyft board member Ben Horowitz said that Lyft's environment was a selling point for his firm Andreessen Horowitz buying into six percent of the company's IPO.
Lire la suite »
Uber and Lyft drivers in Los Angeles strike over low paySome Uber and Lyft drivers in Los Angeles held a 25-hour strike to protest wage cuts and working conditions. The work stoppage was spurred by Uber’s recent announcement of a 25% cut in drivers' pay per mile in Los Angeles and parts of Orange County.
Lire la suite »