Lyft bounces back after a rocky second day in the market
Apr 2, 2019
Lyft's shares turned slightly positive after the stocks dropped nearly 3.5% on its second day in the market due to the analysts' skepticism, though the shares are still short of the $72 of its initial IPO. Some analysts have stated that the target price for the company in 2019 is about $42 per share since Lyft's strength lies on the belief that millennials and future generations will forego the need to own a car and instead rely on ride-hailing services. However, it is still too soon to know how Lyft will perform in the long-term since several tech companies have tumbled on their second day of trading like Twitter and Facebook.