Lyft IPO: Shares pop 20 percent to open trading

Lyft IPO: Shares pop 20 percent to open trading

5 years ago
Anonymous $Dftgs0JzgE

https://www.siliconvalley.com/2019/03/29/lyft-ipo-shares-pop-20-percent-to-open-trading/

Lyft’s shares soared 20.8 percent at the opening of trade Friday, leading the 2019 IPO caravan of Bay Area tech unicorns to go public this year.

The San Francisco company’s shares opened at $87.24, much higher than the $72 price Lyft set Thursday, which was at the upper end of the revised range the company announced this week amid high investor demand. On Friday, Lyft co-founders Logan Green and John Zimmer were at the company’s driver center in Los Angeles, which was awash in confetti and applause as the TV cameras rolled and Green rang the opening bell for the Nasdaq Stock Market.