Ready For Lyft Off? 🚀

Ready For Lyft Off?

Houston we are almost ready for Lyft off! After months of hype and intense rivalry in the ride-hailing space, Lyft is finally ready to take centre stage for what is likely to be a blockbuster Initial Public Offering (IPO). Who’s excited?

Tomorrow marks D-Day for what is set to be a serious spectacle in the markets. The IPO arms race in the ride-hailing space, fuelled by the 35 day government shutdown’s delay, has certainly upped the ante for investors who most likely won’t be blinking for the next two days for fear of missing the action.

Just two days into the company’s roadshow last week, investors were clamouring to get their hands on the red hot shares, eventually pushing the IPO into oversubscribed territory. Off the charts demand moved its underwriters to upgrade its price range target from $62-$68 per share to a whopping $70-$72 ahead of tomorrow’s listing.

This places the IPO in the ballpark of a $24.7bn valuation, making it the largest listing of 2019 by some distance. This number, however, is dwarfed by the estimated $120bn forecast for Uber’s IPO in April, for which Lyft’s listing will be an important precursor. 

Even though the offering is oversubscribed and attracting major attention, that is still no basis for assuming it will come out of the blocks with a big day in the green tomorrow. Both Facebook and Snap were similarly oversubscribed, but remained far below their listing prices for quite some time. Levi’s on the other hand blew investors away with a 31% appreciation.

So at this point the outcome is anyone’s guess, but what we know for sure is Invstr will be offering Lyft in the app from Monday and its IPO is going to be one heck of an event!

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Invstr app and web services are provided by Invstr Ltd. Invstr+ advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC). Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value. Vast Bank N.A. a nationally chartered bank and member of the FDIC, provides the banking products, including the products and services related to digital asset accounts. As with any asset, the value of Digital assets can go up or down and there can be a substantial risk that you lose money buying or holding digital assets. You should carefully consider whether trading or holding Digital assets is suitable for you in light of your financial condition. Your digital account does not support wallet to wallet transferring of your digital assets (i.e. cryptocurrencies) outside the platform. Any Digital Assets in your digital asset account are not insured by any government entities, including but not limited to FDIC or SIPC. The Invstr Visa® Debit Card is issued by Vast Bank, N.A. pursuant to a license from Visa U.S.A Inc and may be used everywhere Visa debit cards are accepted. Invstr Ltd, Invstr Financial LLC and Invstr Securities Ltd are subsidiaries of Marketspringpad Holdings (collectively “Invstr”) and Invstr is solely responsible for the application services and website content.

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