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Lyft Drops Below IPO Price in Second Day of Trading
- nevi-me 8y agoShare prices fluctuate, and IPOs are notorious for over-subscriptions by the banks/underwriters because their fees are often percentage based. I don't know why it would be news that price dips below IPO. If the stock plummets over 50% after a few weeks/months like Facebook did, then that could/would be interesting news. Sure, ride-hailers are loss-makers that would be watched with interest, but the author alluding to investor confidence with 1 day's worth of data is a bit foolish.
- timavr 8y agoIt seems newsworthy. Hot IPO, a lot of money involved. Also, it is public stock now, so daily fluctuations mean quite a lot. If it popped 10% today then there would have been articles about that too.
- kochikame 8y agoAgreed, we need to let a pattern emerge before jumping to conclusions about where Lyft stock is headed There are many interesting criticisms and observations to be made around this IPO, but I don't think second day stock movement is one of them
- dannykwells 8y agoIn 2019, where IPOs are all the rage, please repeat after me: IPOs are bad investments! https://www.safalniveshak.com/3-reasons-ipos-are-bad-investments/ https://www.safalniveshak.com/3-reasons-ipos-are-bad-investm... https://money.usnews.com/investing/investing-101/articles/2017-10-31/ipos-often-are-more-hype-than-substance https://money.usnews.com/investing/investing-101/articles/20... For every Apple IPO, there is a pets.com IPO: https://money.howstuffworks.com/10-biggest-ipo-flops4.htm https://money.howstuffworks.com/10-biggest-ipo-flops4.htm