Lyft IPO initially seemed to have some hope: stock price jumps $72 per share, a 8.7% jump.
But, the glory didn't hold too long; on Monday, the second day of trading, Lyft stock price drops ~12% below its IPO price, closing at $69.01.
The Dealbook echoes one of many concerns of fresh tech IPO:
The rapid decline raises questions about investors’ appetite for fast-growing but unprofitable tech companies. While Lyft has been expanding and gaining new revenue, it lost nearly $1 billion last year.
What do you guys think? Do you think the tech IPO bubble is now bursting after investors realize that unprofitable tech companies are not a good investment?
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