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Lyft shares hit record low, piling pressure on Uber ahead of IPO

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Reuters reports that Lyft Inc’s stock dropped nearly 11% on Wednesday. The slump marks a record low after the ride-sharing company posted a deep quarterly loss. The fluctuations in market prices is putting pressure on Uber Technologies Inc as it prepares to launch its initial public offering. Uber, the world’s largest ride-hailing company, is aiming for a valuation of $80.5 billion to $91.5 billion.

Added on the 08/05/2019 19:46:47 - Copyright : Wochit

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Watch video of Shares Of Blue Apron Dipped To An All-time Low. The Meal-kit Subscription Dropped To $1.81 Per Share On Tuesday. The Company Has Faced Increasing Pressures From Competition, Like HelloFresh. Big Companies Like Walmart And Amazon Entering Its Space. In March, Walmart Announced It Was Launching Its Own Line Of Meal Kits. The Company Has Struggled To Attract New Customers And Retain Old Ones Since Going Public Last June. - Blue Apron Shares Drop To A New Low - Label : Wochit -
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