Lyft shares drop by 19.55% in past week as competition for investors money increases

Shares of ride-hailing app Lyft dropped 19.55% in the past week as competition for investors money increases. The Lyft stock closed with a drop of about $3 billion in market capitalisation. Lyft shares started the week priced at $74.45 from its 5th April close, which was still above its IPO launch price of $72. However, since Uber have released details of their market launch, shares traded at $59.90 on Friday’s close according to CNBC.

The two American rivals will now be soon pitching for shareholder cash and some experts say that the first to float, Lyft in this case, usually gains a boost by benefitting from “pent-up demand”.

There he been expectations from Uber to achieve a $120 billion valuation despite the global minicab firm never having made a profit.

Image Author: Andrew Brackin

Image Source: Flickr

  • Facebook TaxiPoint
  • Twitter TaxiPoint
  • YouTube TaxiPoint
  • Instagram
ltda banner.JPG



Cabbies Do Kili Oct Footer Banner.jpg
Market Footer .gif


TAXI INSURANCE MMC October 2020.gif
TaxiPoint- 300x200px Taxi GIF PLAN AUG 2
private hire cover from Utility Saving Expert

The views expressed in this publication are not necessarily those of the publishers.

All written and image rights are reserved by authors displayed. Creative Common image licenses displayed where applicable.

Reproduction in whole or in part without prior permission from the publisher is strictly prohibited.

All written content Copyright of TaxiPoint 2020.