The inquest into how Lyft stock was pressured by short-sellers immediately after its IPO is far from over. But it is clear that trading volumes in Lyft in the first week after it went public were far higher than in the IPOs of Alibaba, Google, Facebook, Snap or Twitter, suggesting the Lyft aftermath is an historical anomaly.
That’s according to data from FactSet, prepared for Lyft’s lead underwriter in the IPO, JP Morgan. It showed that more than twice the number of shares Lyft sold in the IPO traded on the first day—220% of the offering size—dropping to 129% on the second day and 34% by the sixth day. Only Twitter had trading volumes anywhere close to Lyft, the data show, as the chart above shows. (A detailed table showing volumes day by day for all the companies is at the bottom of this story.)
