Lyft shares soar on Nasdaq debut, setting stage for Uber
Lift serving in his first day of trading making it public debut right here at the NASDAQ. Let's go out to Deirdre Bosa for all the details. Hey, the address. Hey, melissa. That's right. Shares of lift hopping more than eight percent on its debut. That's a good signal for the company and a good signal for the IPO to come. But of course, this story is just getting started remember snap on its first day of trade, though, shares pop nearly fifty percent and a few months later. It was back below that IPO price was also group on another hyped up tech name that was loss making a profitable at search some thirty percents in its debut and just a few weeks later it had lost all of those gains. Now, the point is I don't be a Debbie Downer. But that this story is just getting cited, and they're gutting started. And there was a lot of excitement over these names. But they struggled after they became public companies. And there are still a lot of questions about lift such as it's tough to profitability and its dual class structure if things do go sideways this morning, though, co-founder Logan green telling Andrew Ross Sorkin that it's corporate governance will actually set them up. For long term growth. Collectively, we really need to set the company up for this long-term opportunity and create the type of durable growth that we're going after. Uber on the other hand will go public with a one share one vote structure, we are tipping that IPO as early as April. So so far, Melissa we have one day judge lift on it. It has been a good start that should bode well for at least when it's trying to get its valuation back to you. All righty, your thank you both for joining us from San Francisco, despite the U for you today, the market Rasen vulnerable states who has lift about to lift stocks to new highs will the IPO parade reignite this rally a lot of questions I want to die because you're into when there's so many questions, but it's also worth noting that lift shares open higher by twenty percent finished the day higher by eight percent.