Wall Street begins dumping shares of Lyft

Wall Street begins dumping shares of Lyft
FILE - In this Jan. 31, 2018, file photo, a Lyft logo is installed on a Lyft driver's car in Pittsburgh. Lyft’s stock fell 10 percent in trading Monday, April 1, 2019, just one day after the company went public. (AP Photo/Gene J. Puskar, File)

NEW YORK (AP) — Shares of Lyft are tumbling in its first full day of trading as a public company.

Shares fell 10 percent Monday, hitting levels below its initial offering price of on Friday. Shares had reached .60, up 21 percent, before giving ground by the end of the day.

The ride-hailing company has consistently lost money, raising doubts about its overall valuation. Even so, some investors were wowed by the company’s growth in the past two years.