Lyft (LYFT) shares were on the move again on Friday, rising almost 4% to cap a volatile first week of trading.
The ridesharing company staged a successful IPO last week, closing its first day almost 9% above its $72 offer price, but subsequently ran into some turbulence, tumbling close to 12% on Monday and then moving sideways for a few days as its stock attracted plenty of short interest.
On Thursday, shares closed at exactly $72, but were getting a boost on Friday. Where will Lyft’s stock price go from here, and what does that mean for the slew of money-losing tech companies slated to follow Lyft and go public later this year?
Eric Jhonsa, tech columnist for RealMoney and TheStreet, and Annie Gaus, TheStreet’s tech reporter, discuss Lyft’s mixed IPO and the stock’s future prospects on the latest episode of Technically Speaking.