Lyft's had a torrid time so far as a public company, and it's trading a lot like Facebook did

📆 11.04.2019 15:07:00
📰 BusinessInsider

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Lyft's shares have plunged since its IPO in March. Its early days in the public market resemble those of another tech giant: Facebook.

Facebook shares dropped nearly 30% in its first nine days of trading, going by the change since the close on the first day of trading; Lyft has dropped about 20% by that same measure. Sure, Facebook eventually recouped its post-IPO losses — 15 months later.

Only time will tell what direction Lyft is headed, and it's so early in its lifetime as a publicly traded company, but bullish investors know one thing for sure:The time it took Facebook to recapture its IPO price after going public.Now read more markets coverage from Markets Insider and Business Insider:

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