Lyft crashes amid middling Uber market debut

Lyft crashes amid middling Uber market debut


Uber is becoming a public company during a week of back-and-forth tensions over trade negotiations between the U.S. and China. On Friday morning the major indexes were all down at least 1%, though they turned around later in the day and all finished up.

Lyft was having a rough week already. The shares fell more than 10% Wednesday after the company released its first earnings report since going public.

Lyft had a stronger opening than Uber when it started trading on March 29. The company priced shares at $72 each, then the stock began trading at $87.24. The shares moved lower, and the closing price on the first day of trading was $78.29, but that was still above the IPO price.

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