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Uber And Lyft Struggle After IPO Flop

Video Credit: Wochit News - Duration: 00:32s - Published < > Embed
Uber And Lyft Struggle After IPO Flop

Uber And Lyft Struggle After IPO Flop

Uber and Lyft have been huge flops since they debuted on Wall Street earlier this year.

Shares of both companies are trading more than 30% below their initial public offering prices.

Uber dropped nearly 6% Tuesday to hit a record low before rebounding a bit Wednesday.

Both companies recently lost massive amounts of money.

Neither is expected to be profitable in 2020 or 2021 either.

Uber posted a more-than $5.2 billion loss in the second quarter.

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