Lyft’s stock began trading close to $90 on Friday, but quickly retraced and closed at $78.29. On Monday, price fell again as institutional investors are questioning the company’s long term profitability in the soon to be era of autonomous vehicles, closing the day at $69.01, below the IPO price of $72.
In 2018, Lyft’s revenue more than doubled to $2.2 billion from $1.1 billion in 2017, according to its filing. But losses mounted, rising to $911.3 million last year from $688.3 million in 2017, though they declined as a percentage of revenue. Total costs and expenses were $3.1 billion in 2018,
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