Every previous tech IPO in the past few years has had a curve like this. Facebook dropped below $20 shortly after IPOing, before starting its long ascent to >$1

Every previous tech IPO in the past few years has had a curve like this. Facebook dropped below $20 shortly after IPOing, before starting its long ascent to >$100. Short-term speculators are likely to be burned, but if Lyft does meet expectations in the next few years, long holders will make out well.