Lyft Prepares for Friday IPO, Raises $2.7 Billion in Capital

Lyft Prepares for Friday IPO

Senior Vice President Chris Keith has the market analysis for Thursday, March 28. Despite intraday declines, all major U.S. stock indexes advanced slightly, with the Dow Jones Industrial Average and S&P 500 each up 0.4% and the NASDAQ gaining 0.3%. We also saw the measure of fourth-quarter economic growth adjusted lower, with annualized pace falling from 2.6% to 2.2% as result of a downward revision on consumer spending. Meanwhile, Lyft’s stock is scheduled begin trading on the NASDAQ Friday; the rideshare company seeks to raise $2.7 billion in working capital from its initial public offering.

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