Lyft Has Had Rough Time Going Public

Credit: Wochit Business
Published on April 11, 2019 - Duration: 00:36s

Lyft Has Had Rough Time Going Public

Lyft shares have fallen 30% since the stock first hit the market in late March, and they've fallen 11% from the company's first closing price.

But this kind of volatile trading isn't uncommon for newly public companies, especially as short sellers swoop in and try to capitalize on an initial public offering (IPO)'s early hype wearing off.

Facebook, which debuted in 2012, saw a similar trajectory in its first few days of trade before recapturing its IPO price — over a year later.

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Lyft Has Had Rough Time Going Public

A MARCH 29, 2019, FILE PHOTO A JAN.

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