Dear Readers, Well, that was quick: A week after Lyft's splashy IPO and shares of the ride-hailing company have already come crashing back to earth. Lyft priced its IPO at $72 a share last Thursday evening and opened the next day at $87.24 a share. After a volatile few days of trading, shares closed at $74.69 as of Friday. One analyst slapped a sell rating on the company this week and initiated with a $42 price target, nearly half its IPO price. "In order to justify its...
READ FULL ARTICLE »
Become a member to take advantage of more features, like commenting and voting.
Register or sign in today!