Shares of Lyft sank as much as 11 percent Monday, falling below the stock's IPO price in its second day of trading on the public market.
"Falling below its IPO price is a gut punch for investors and Lyft," Wedbush managing director Dan Ives said in a statement to CNBC."This is a pivotal few weeks of trading ahead to gauge Street demand for the name as valuation and profitability continue to be the wild cards for tech investors."
Riders will eventually favor fully autonomous fleet for safety, service consistency and privacy. As we approach autonomy, human drivers become the roadblock for riders to conduct business, karaoke sessions, etc., during rides.
No surprise that lyft's share price is falling. I mean ... what's a contract taxicab company worth these days?! 😀
Typical pump and dump upon IPO. Nothing interesting. Typical of wallstreets Now the fundamental will come to play. If the fundamental is solid, the price will recover. pumpanddump stocks
Lyft cofounders totally scam artists. Saying their alleviating traffic and for congestion pricing. Ur causing it with your scooters and cheap bikes, bike lanes where no one rides, calling urself ridesharing, it is NOT ridesharing. Bad for environment, creating terrible traffic.
Lol, can’t wait for the next round of ipos. Sounds like it’ll turn out great!
Shame on CNBC for your role in this pump and dump scheme. LesliePicker
is complicit in these pump and dump schemes. You are doing a disservice to the general public by supporting the lies of bankers and exchanges. There was no demand for this IPO. Why did you perpetuate the lie?
Can someone please explain the gigantic disconnect between claims of overwhelming demand for the IPO and the huge dump we've seen since the stock opened? Someone lied.
Business Schools will point to LYFT IPO as an example of how to deceive the general public by lying about HUGE demand and 'oversubscription.' Non-stop selling since it hit the markets...
Where's Cramer and his 'I think we'll see 95+ or 100+' on Day 1? Frankly, there was no demand. Whole thing was fraud. Pumped up and dumped.
CNBC pumped lyft IPO for two days straight so early investors could dump non-stop. What a disgrace. Purposely misleading the public. Shame on you all!
lyft Lyft IPO was an ouright fraud. Deceptive marketing. Shame on all involved.
CNBC calling the LYFT open like a horse race and then showing tick by tick trade on the screen
Bring on Steve Weiss who pumped the stock on Friday - said he bought more at open at $87
mr_jettlife
Lyft is a bankers scam to sell shares, stay away