I have a mixed feeling about this.
Shares of LyftOpens a New Window., which are now publicly available on the Nasdaq under ticker symbol LYFT, surged in initial trading Friday -- far above the $72 per share they had been priced at.
The ride-hailing company’s shares began trading at $87.24 apiece, a more than 20 percent jump over what it had been priced at. Shares ended the day more than 8 percent higher, at about $78 per share.
The initial public offeringOpens a New Window. (IPO) one of the most highly anticipated of the year after pricing shares at $72 late Thursday, the high end of the expected range, which was increased earlier this week amid strong demand for the deal. Its previous range was between $62 to $68 per share.