As Lyft Inc. made its initial public offering documentation public Friday, fueling speculation on the potential start to one of the biggest years for tech IPOs ever, investors can also gain exposure to the fervor through an outperforming IPO-themed exchange traded fund strategy.
Lyft’s IPO documentation sets the company to begin trading in late march and to start its so-called roadshow to pitch its business to investors over the next several weeks, the Wall Street Journal reports.
The company is expected to start trading on the Nasdaq Stock Market under the ticker symbol “LYFT”.
LYFT IPO to Test the Waters
The Lyft IPO will be testing the waters on how much investors value the industry and its main players such as Uber and other ride-sharing firms that have received huge startup money from private investors at high valuations.
According to people familiar with the offering, Lyft is widely expected to achieve a price in the public market that far exceeds its last private valuation of $15.1 billion as of early 2018.