FIRST AIRED: April 1, 2019

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COMING UP:Share Opener Variant 2

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Transcript

00:00:00
wall street's joy ride with live market debut came to an abrupt stop Monday in only their second day of trading shares of lift plunge eleven percent falling below the seventy two dollar initial public offering price Guggenheim security started coverage of the stock with a neutral rating citing quote lack of visibility on the path to profitability the first ride hailing apps to sell shares on the public stock market lost nine hundred and eleven million dollars in two thousand eighteen and that's not the only issue reporter Silicon Valley reporter heather Somerville other questions that have come up from investors during the past two weeks and lift was on its road show is what is the company strategy for Thomas vehicles how is it going to deal with the many labor dispute that has with drivers and also the dual class share structure that lift has no this is a share structure that is a very common among highly valued technology company and a point of contention with public market investors that's because it gives certain shareholders primarily the founders more votes per share an IPO buyers lifts swift fall is bringing back dark memories for tech investors Facebook also stumbled after initial opening rally without the I. appeals underwriters propping up the stock to fell on the second day and took fourteen months before once again traded above its IPO price and some tech investors may be cautious after getting burned in the snap IPO shares of the parent of Snapchat or one third below their IPO the sense of deja vu comes as other highly sought after I appeal sit in the wings namely uber and Pinterest these each have something in common with lift they are still losing money our