Both companies have lost major ground since going public, showing that investors are growing increasingly hesitant around money-losing firms.
Both Uber and Lyft fell to record lows on Wednesday, showing that investors are shying away from unprofitable unicorns. The ride-hailing duopoly has posted major losses since going public. Uber lost $5.2 billion in the second quarter, while Lyft lost $644 million. Other high-profile IPOs have faltered. Peloton's recent offering fell flat, and WeWork's was cancelled after investors raised concerns about the company. Read more on Business Insider.
Both Uber and Lyft fell to record lows on Wednesday, showing that investors are shying away from unprofitable unicorns. The ride-hailing duopoly has posted major losses since going public. Uber lost $5.2 billion in the second quarter, while Lyft lost $644 million. Other high-profile IPOs have faltered. Peloton's recent offering fell flat, and WeWork's was cancelled after investors raised concerns about the company. Read more on Business Insider.
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