But things changed in the days that followed the launch: the company opened sharply down, its price fell by 12%, and fell below its IPO price, staying there until Friday, when it finally managed to recover it initial price. Amateur investors thought they saw an opportunity to make money betting against the value of the company and seeking to benefit from its loss of value. Surely it’s clear to everybody by now that the future of transportation is as a service. The only doubt about Lyft is whether it will lead this nascent industry or whether it will be second or third. Uber is following an even more aggressive expansion strategy and its upcoming IPO will also attract huge numbers of investors.

Source: Forbes April 07, 2019 11:37 UTC