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

Taxi-Point_Banner_V2 29.03.2021.gif
  • Facebook TaxiPoint
  • Twitter TaxiPoint
  • YouTube TaxiPoint
  • Instagram
LTDA Feb 2021.gif

TRENDING...

COVID-19...

VEHICLE...

ETHOS 030 Taxi Point ad mob (002) MARKET
MMC April 2021 static TAXI INSURANCE (3)
Ascotts Taxi Repair
taxipoint-db-footer-banner.jpg
Plan Taxi Insurance
advertise with us.jpg

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 2021.