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Lyft is blowing a gasket in its 1st week as a public company

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Shares in the ride-haling company Lyft, the hottest new public stock offering in years, are falling sharply for a second consecutive day.

Before the opening bell Tuesday, shares are down another 5% after falling 12% Monday, the first full day of trading in company shares. That plunge put the stock below the public offering price of $72.

The ride-hailing company has consistently lost money, raising doubts about its overall valuation. Even so, investors have been wowed by the company's growth in the past two years and some have bet big on its potential.

 

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Didn't people buy it because the hoped to make a quick buck as the prices went up? Surely no one bought it as an investment

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