No Alarms and No Surprises? What Lyft’s Slump Tells Us About Modern Capitalism by James Meadway

6 April 2019 — Novara Media

Ride-hailing app Lyft’s initial public offering (IPO) last week saw the company valued at $24.3bn in its first day of trading shares – before crashing back below its $72-a-share initial purchase price, where it has knocked around for the rest of the week. Short-sellers (those betting on further price falls) have reportedly gone into “overdrive”, whilst the post-offer price slump has been flagged as a significant warning for tech investors in general.

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