Deals
Lyft's Trading Debut to Be Watched by IPO-Hungry Tech Companies
- Ride-hailing company set to begin trading on Nasdaq Friday
- Upsized $2.34 billion IPO still needs ‘pop’ to rank as success
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All eyes will be on Lyft Inc. Friday as it makes its public market debut, after investors rushed to get a piece of the first big U.S. technology listing this year.
Shares of the No. 2 U.S. ride-hailing company will start trading on the Nasdaq Global Select Market under the ticker LYFT after an initial public offering that’s been viewed as a bellwether for Silicon Valley companies. All the signs before the listing looked good: the IPO was oversubscribed just two days into the marketing pitch, and Lyft ended up selling more shares than planned at the top of an already elevated price range.