News Formal

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

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 16 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 51%

United Kingdom News News

United Kingdom United Kingdom Latest News,United Kingdom United Kingdom Headlines

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:

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in UK
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks making the biggest moves midday: Under Armour, Tesla, Lyft, First Solar & moreCheck out the companies making headlines midday Wednesday:
Source: CNBC - 🏆 12. / 72 Read more »