Lyft plunges below IPO price, sending cautionary message to other unicorns | Washington Post

Investors taken for a ride?...

"The ride-hailing company‘s stock shot up by nearly 25 percent after it hit the open market on Friday. It then settled at $78.29, or 9 percent above its $72 initial public offering price.

Monday was a different story. Lyft shares tumbled, closing at $69.01, down 12 percent on the day. The stock has pulled back 4 percent from its IPO price and is off 22 percent from its Friday high of $88.68.

Lyft’s two-day performance offers a sobering lesson on the risks of jumping in on the opening trading day of a hot company."

Lyft plunges below IPO price, sending cautionary message to other unicorns | Washington Post