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Lyft crashes amid middling Uber market debut

Confetti falls as Lyft CEO Logan Green (C) rings the Nasdaq opening bell celebrating the company's initial public offering (IPO) on March 29, 2019 in Los Angeles, California.


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.

WATCH: Lyft co-founders are focused on offering the best service, not just a cheaper one


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