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Lyft short selling builds after Uber files IPO paperwork

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1149 Rider
 Posted 4 years, 5 months ago

I assume this is bad?

Shares of Lyft Inc. fell in Friday trading amid active short selling after rival Uber Technologies Inc. filed paperwork for an initial public offering.

Lyft’s stock LYFT, -1.93%  was down as much as 5.8% in morning trading before paring back some of its losses. The negative price action came as a result of both long, or bets that the stock will rise, and short selling—bets the stock will fall—according to S3 Partners analyst Ihor Dusaniwsky, who said that more than a million additional shares were shorted during this morning’s session.


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