Lyft gives up debut gains in second day of trading.
- Shares of ride-hailing company Lyft Inc crashed below their initial public offering price in just their second day of trading on Monday, matching the speed at which Facebook Inc gave up its IPO price after a rocky debut nearly seven years ago.
Lyft touched a session low of $67.78 on Monday before closing down 11.8 percent at $69.01, well below the company's IPO price of $72. Come Monday, that support was no where to be found and Facebook opened at $36.53. The social media company would not regain its IPO price for 14 months. Whether Lyft can deliver the turnaround Facebook managed is a top question for investors. After hitting a lifetime low about three months after its IPO, Facebook shares have gained more than 800 percent to become the"F" in the vaunted FANG group of tech high flyers.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Lyft shares surge 21.2 percent on Nasdaq debut after IPOLyft Inc shares on Friday opened up 21.2 percent at US$87.24 in its market debut on the Nasdaq after the company was valued at US$24.3 billion in ...
Read more »
Lyft shares soar on Nasdaq debut, setting stage for UberLyft Inc shares on Friday opened up 21.2 percent at US$87.24 in its market debut on the Nasdaq after the company was valued at US$24.3 billion in ...
Read more »
Lyft gives up debut gains in second day of tradingShares of ride-hailing company Lyft Inc fell as much as 10.5 percent on Monday, below its initial public offering price of US$72.
Read more »
In market debut, Lyft counters Uber with 'nice guy' imageLyft Inc has been challenging larger ride-hailing rival Uber Technologies Inc for years by cultivating an image of caring more for its drivers, ...
Read more »
The Reiwa bump: New imperial era name sends ripples across Japan IncTOKYO (REUTERS) - As Japan revealed the name of its new imperial era on Monday (April 1), Internet users rushed to register domain names linked to the choice, 'Reiwa', which also sparked a jump in name-related stocks.. Read more at straitstimes.com.
Read more »
Rakuten says to book US$990 million gain on Lyft investmentTOKYO: Japan's Rakuten said on Monday it will book a 110 billion yen (US$989.74 million) gain in the quarter through March on its investment in ...
Read more »
Troubled Apple supplier Japan Display to seek funding, shares surgeApple supplier Japan Display Inc said on Monday it aims to raise as much as US$990 million in new financing as early as this week, sending shares ...
Read more »
Lyft raises IPO price rangeRide-hailing company Lyft Inc on Wednesday increased the price range for its initial public offering to a range of US$70 to US$72 per share
Read more »
Lyft IPO sets rollout for ride-hailing, sharing economy[WASHINGTON] Lyft is raising some US$2.5 billion in its Wall Street offering, which is seen as turning point for the ride-hailing business and the so-called 'sharing economy.' Read more at The Business Times.
Read more »
Lyft valued at US$24.3b in first ride-hailing IPONEW YORK: Lyft Inc was valued at US$24.3 billion in the first initial public offering (IPO) of a ride-hailing startup on Thursday (Mar 28), ...
Read more »