All of Lyft’s profits gained in 2021 were lost before the end of the year. Despite the bullish ride from October to March 2021, the bears overpowered bulls as the share price slumped to $34 from the March 2021 high at $68. The lowest price for Lyft was at $15 which occurred in March 2020 during the global pandemic. The only time Lyft traded above the IPO price was April 1, 2019, the same day it was listed on the stock exchange. Lyft’s IPO price was $72 valuing the company at $20.5 billion.
Lyft investors post IPO have never had a reason to smile to the bank since most part of the time it has been listed on the stock exchange, it fails to trade above the IPO price. The next rally could push the price to a new resistance in the year 2022 at $55 as the price is currently trading at $41.20. The recent bounce is a result of LYFT’s Q4 earnings reports, as price rallies. The revenue rose to $969.9 million from $569.9 million from the previous quarter. Analysts estimated revenue of $940.07 million. RSI on the daily chart already shows the price has been oversold in December, as the price is currently in the upper region of the Bollinger bands.
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