Lyft Taking a Fall
CBJ — Shares in the ride-haling company Lyft are still falling after initially doing extremely well in its first day of trading last Friday.
Before the opening bell Tuesday, shares were 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. Shares fell below $66 in electronic trading Tuesday.
The ride-hailing company has consistently lost money, raising doubts about its overall valuation.
It also seem as if a number of potential investors may be looking to get in on Uber’s public stock, when it goes public.