Shares of Lyft Inc. LYFT, +18.43% are up 22% in morning trading Friday following the ride-hailing company's initial public offering. The first trade was executed for $87.24 at 11:48 Eastern time. Shares recently changed hands at $86.62, above the stock's $72 IPO price, which marked the high end of its upwardly revised range. Lyft's IPO comes at the S&P 500 SPX, +0.28% has risen 13% on the year and as the Renaissance IPO ETF IPO, +0.39% has gained 31%.
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Awesome to see Lyft off to such a good start. With IPOs it’s good to consider the fact that the stock may may take a big hit in first 6 months due to employees selling their stock bc they made the big bucks. TheFreeRetiree
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Lyft Shares Open at $87.24, Up 21% from IPO Price of $72Lyft’s shares jumped 21% in their stock-trading debut, as investors gobbled up the first public opportunity to buy into the future of ride hailing. The $87.24 opening price gives Lyft a valuation of roughly $30 billion. best part about the future: it doesn't exist. $LYFT It's a crazy world we live in when you turn an app into billions of dollars and recreate a modern day slave trade economy jsjawandha did you but
Source: WSJ - 🏆 98. / 63 Read more »