- Ride-sharing app Lyft has suffered through volatile trading since its March initial public offering.
- Shares have plunged 23% from their IPO price of $US72, with investors recording paper losses.
- Watch Lyft trade live.
Lyft investors have had a rocky road since the initial public offering on March 29. The ride-sharing company’s shares are down 23%, well below the initial-public-offering price of $US72, wiping nearly $US5 billion off the company’s market cap.
These developments have important implications for the valuation of Uber’s IPO, widely expected to be the largest of 2019. Uber is expecting to go public as early as Friday.
While every Lyft investor who got in ahead of the IPO has seen their Lyft holdings decline in value, Markets Insider picked out eight to highlight.
To be clear, it is unclear at what price these investors originally purchased shares, and some or all could still be up significantly on their original investment. Also, these are paper losses, and Lyft’s shares could yet rebound.
Description: Largest Japanese e-commerce and internet company
Shares: 31.4 million
Paper loss since IPO: $US518 million
Description: Largest US auto manufacturer, selling 3 million vehicles in 2018.
Shares: 18.7 million
Paper loss since IPO: $US308 million
Description: Largest privately held mutual-fund company, managing $US2.5 trillion.
Shares: 18.5 million
Paper loss since IPO: $US305 million
Description: Venture-capital firm started by Marc Andreessen, a co-founder of Netscape
Shares: 15.0 million
Paper loss since IPO: $US248 million
Alphabet / Google
Description: The world’s leading search engine with a market cap of $US815 billion
Shares: 12.6 million
Paper loss since IPO: $US208 million
Description: Lyft co-founder and CEO
Shares: 9.8 million
Paper loss since IPO: $US162 million
Description: co-founder and president of Lyft
Shares: 7.2 million
Paper loss since IPO: $US119 million
Description: Lyft board member and former senior adviser to President Obama
Paper loss since IPO: $US330,000
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