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Lyft Drops Below IPO Price as Street Questions Growth Path

  • Analysts concerned about how quickly Lyft can be profitable
  • Market share, revenue growth may slow, Consumer Edge says
Bloomberg business news
Triton Research CEO Sees a Lot of Problems With Lyft's Fundamentals
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Lyft Inc. went public Friday in the highest-profile stock sale of the year. It didn’t take long for the doubters to show up in the equity market.

The shares dropped as much as 12 percent to $69.12 as of 10:32 a.m. in New York, more than erasing Friday’s gain and falling below its initial public offering price of $72. Wall Street analysts highlighted concerns about how fast the ride-sharing company can start making money.