Shares of recently listed Lyft Inc fell to a fresh low and closed the day down a...
FILE PHOTO: Lyft supporters gather for the Lyft IPO as the company lists its shares on the Nasdaq in the first-ever ride-hailing initial public offering, in Los Angeles, California, U.S., March 29, 2019. REUTERS/Mike Blake/File Photo
In ride-hailing company Lyft’s ninth day of trading its shares clocked their lowest closing price since going public on March 29. And the $60.12 close was 16.5 percent below Lyft’s final IPO price of $72 and even under the low end of its initial price target range of $62 to $68. “It’s not a coincidence that the day before Uber was expected to make a filing that investors are immediately contrasting it to Lyft and Lyft looks less attractive,” said Matt Moscardi, analyst at MSCI in Boston.
It could also work in Uber’s favor that it is now expected to seek a valuation of $90 billion to $100 billion, below the $120 billion investment bankers previously told the company it could be worth, according to the Reuters report.
इंडिया ताज़ा खबर, इंडिया मुख्य बातें
Similar News:आप इससे मिलती-जुलती खबरें भी पढ़ सकते हैं जिन्हें हमने अन्य समाचार स्रोतों से एकत्र किया है।
Lyft IPO Should Mark The End Of The 'Uber'- Exuberant Tech Cycle In Silicon ValleyLyft, 'lifted' to a valuation of close to $25 billion when shares started trading on Friday. Today, it's down as much as 20% from the Friday highs.
और पढो »
Carl Icahn sold Lyft stake to Soros prior to IPO: WSJBillionaire investor Carl Icahn sold his roughly 2.7 percent stake in Lyft Inc t...
और पढो »
Lyft's shares rise after Citron advises against shorting stockShares of ride-hailing company Lyft Inc rose as much as 4 percent on Friday, set...
और पढो »
A Murdered College Student’s Family Is Calling On Uber And Lyft To Make Rides SaferAt her funeral, the 21-year-old’s cousin asked ride-sharing companies to “provide safeguards to the mistakes that are easily made, the mistake that took Sami from us.”
और पढो »
How Uber and Lyft riders can stay safe after Samantha Josephson’s deathThe University of South Carolina student entered the car of a man she mistook for her Uber driver, police said.
और पढो »
Uber plans to sell around $10 billion worth of stock in IPOUber Technologies Inc has decided it will seek to sell around $10 billion worth of stock in its initial public offering, and will make public the registration of this offering on Thursday, people familiar with the matter said on Tuesday.
और पढो »
Lyft shares drop to a new low as experts question its valuation ahead of Uber's debutLyft shares tumbled Wednesday following skepticism around its valuation and reports that Uber will unveil its public offering Thursday.
और पढो »
Uber, ahead of IPO, sees some time before self-driving cars dominate the roadSelf-driving cars won’t take over the roads anytime soon, the chief scientist of Uber's autonomous vehicle unit says at a Reuters Newsmaker event
और पढो »
Lyft shares should only be worth $59 according to valuation guruCNBC's Fast Money, NYU's Aswath Damodaran explained that there's a fundamental problem with Lyft's business model that may have helped the company grow fast, but prevents it from making money.
और पढो »