Lyft hits record low as Uber slumps in Wall Street debut See the two rivals, side-by-side via ReutersGraphics
FILE PHOTO: Uber and Lyft stickers are seen on a car windscreen as protesters join an Uber drivers' strike for higher wages at LAX airport in Los Angeles, California, U.S., May 8, 2019. REUTERS/Lucy Nicholson
Uber fell 8% from the $45 price set in its IPO late on Thursday, which valued the company at roughly $82 billion, just above the $76 billion valuation it attained in its last private funding round “Uber is considered the leader and the one in the strongest market position. If investors are not getting behind it on the lower valuation, that creates a challenge for the smaller Lyft in investors’ minds,” said Wedbush analyst Ygal Arounian.
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