While Lyft made its debut amid much fanfare on Friday, the shares quickly lost some steam and have fallen below the IPO price as more cautious voices emerge. On Tuesday, Lyft received its first sell rating from Seaport Global analyst Michael Ward, who said that its current valuation required a “big leap of faith” from investors, and reflected an overly optimistic view of consumer behavior in the U.S.

Source: Los Angeles Times April 03, 2019 19:29 UTC