Monday, April 1, 2019

Lyft Stock Not Lifted

Ride sharing company Lyft went public on Friday. The stock price jumped as much as 23 percent, before falling to a gain of 9 percent. Today, the stock took a nose dive, dropping 11 percent, trading below its initial offering price. Lyft has yet to earn a profit, and recorded a loss of more than $900 million during 2018. How the Lyft IPO affects the decision to go public for other tech companies like Uber, Slack, and Pinterest is yet to be seen.