Popular ride-sharing service Lyft made its Wall Street debut on Friday, and it was an impressive one.
Lyft shares opened at $87.24, a 20 percent jump from its IPO of $72. That means the company has already raised about $2.3 billion so far from the listing, and increased its value to about $25 billion – not bad for a company that posted losses of $900 million last year.
It remains to be seen how Lyft’s IPO will compare to Uber’s when that company goes public in April. Other popular tech companies like Slack, Pinterst, and Postmates are also planning IPO’s in 2019.
Source: https://www.cnbc.com/2019/03/29/lyft-ipo-stock-starts-trading-on-public-market.html
