In a sign of strong initial demand, Lyft raised its proposed IPO range from $62-$68 to $70-$72.
Over the past 10 years, 97% of the deals that priced above the range traded up on their debut, with an average first-day return of 42% and a median of 33%. That compares to the overall average of 67% of IPOs finishing the first day positive, producing an average return of 13% and a median of 6%.
If you can get shares of Lyft, the odds are on your side. After the first day, it's more of a mixed bag. Over the past two years, 61...
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