Lyft is getting crushed on the first trading day following its much-hyped IPO, and unsophisticated investors are learning the hard way that it’s not a good idea to plow into companies as soon as they go public. Lyft Stock Dives Below IPO Price While Dow, S&P 500 Surge Lyft went public Friday at $72 a share. Almost immediately, the price rose 20% as retail buyers raced to gobble up shares, only to close well off its session high as insiders dumped their stakes. When it opened for trading Monday, the price sank even further to $69.12 a share, which was
The post Lyft Stock Plunges as Insiders Race to Dump Shares on Clueless Investors appeared first on CCN
* First published on ccn.com
