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Lyft crashes amid middling Uber market debut

Confetti falls as Lyft CEO Logan Green (C) rings the Nasdaq opening bell celebrating the company's initial public offering (IPO) on March 29, 2019 in Los Angeles, California.


Lyft crashes amid middling Uber market debut


Uber is becoming a public company during a week of back-and-forth tensions over trade discussions between the U.S. and China. On Friday morning the major indices were all down at least 1%.

Lyft shares fell more than 10% in after-hours trading on Wednesday after it released its first earnings report as a public company.

Lyft had a stronger opening than Uber when it started trading on March 29. The company priced shares at $72 each, then shares began trading at $87.24. Shares moved lower, and the closing price on the first day of trading was $78.29, but that was still above the IPO price.

WATCH: Lyft co-founders are focused on offering the best service, not just a cheaper one


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