Shares of Lyft Inc. LYFT, +18.43% are up 22% in morning trading Friday following the ride-hailing company's initial public offering. The first trade was executed for $87.24 at 11:48 Eastern time. Shares recently changed hands at $86.62, above the stock's $72 IPO price, which marked the high end of its upwardly revised range. Lyft's IPO comes at the S&P 500 SPX, +0.28% has risen 13% on the year and as the Renaissance IPO ETF IPO, +0.39% has gained 31%.
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Awesome to see Lyft off to such a good start. With IPOs it’s good to consider the fact that the stock may may take a big hit in first 6 months due to employees selling their stock bc they made the big bucks. TheFreeRetiree
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