LYFT GOING PUBLIC. “..preparing to list its shares on Nasdaq around the end of March..” – By Todd Horwitz, Bubba Trading


Lyft Inc. IPO?

Lyft Inc. is preparing to list its shares on Nasdaq around the end of March, as the ride-sharing firm’s hotly anticipated plan to join the public markets comes into focus.

The company, which submitted its IPO confidentially with the Securities and Exchange Commission late last year, is expected to make the filing public as early as next week, according to people familiar with the plan. The filing is expected to name Nasdaq as the exchange for Lyft shares, they added.

Lyft has been in a race with rival Uber Technologies Inc., which has also filed privately for an IPO, but it is now clear Lyft will provide the first major test of how public investors value the ride-hailing industry. Uber, Lyft and several other such companies have received vast sums of money from private investors at high valuations but still need a lot more capital as they continue to generate losses.

The review of their filings stalled briefly when the government partially shut down later that month. The review process may take longer for Uber than for Lyft, because Uber is involved in several secondary businesses, like food and freight deliveries. Uber and Lyft both operate bike and scooter services, as well as self-driving car development wings.

Lyft will list on the Nasdaq and expects to be valued between $20 billion and $25 billion, according to the people familiar with the company’s plans. The details about Lyft’s pending roadshow were first reported by Reuters.

The Lyft listing is a win for Nasdaq, which struggled to attract tech companies after the exchange suffered delays and technical issues during Facebook’s I.P.O. and faced tough competition from the New York Stock Exchange for tech debuts. In the aftermath of the Facebook fumble, tech firms like Snap, the parent company of Snapchat, Square, and Twitter went public on the Big Board. Lyft was last valued by private investors at $15.1 billion and has selected JPMorgan Chase to lead its public offering.

Todd “Bubba” Horwitz


Financial Markets and Political Commentary

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About the author

Todd Horwitz - Author of “Average Joe Options“. Todd began his trading career in 1980 at the CBOE. He was one of the original traders in the OEX & helped start the SPX. He is a member the CME where he trades S&P futures as well as foreign currencies & is a regular contributor to CNBC, Bloomberg, BNN, Fox & many other major news networks.