It sure does need one. After being pushed into the IPO market land and opening up well above the IPO price at 72, it has been utterly obliterated into the ground. Every single investor is losing money here (unless you are shorting, but they aren’t investors). This is a gigantic fail of an IPO. Does UBER make the same mistake?
They are doing everything they can not to including holding a valuation much below what was originally estimated and attempting to open the share price lower to. From the looks of it LYFT is not getting a bounce on UBER’s big day. LYFT is currently trading down over 7% and is getting worse hitting ALL time lows. (About to break 50)
I would not touch this thing with a 10 foot pole unless it gets back over $60. This will take some time to set up and unless UBEr skyrockets and lyfts $LYFT…it is in for a long road ahead I believe.