Lyft Gives up Debut Gains on Second Day of Trading

The Lyft logo is shown on the screen at the Nasdaq offices in Times Square on March 29, 2019 in New York. Nasdaq: LYFT, the multimodal transportation network, - Ride-hailing company Lyft made its Initial Public Offering (IPO) on the Nasdaq Stock Market on March 29. (Photo by Don Emmert / AFP) Photo credit should read DON EMMERT/AFP/Getty Images

Shares of Lyft Inc. crashed through the ride-hailing company’s initial public offering price on just their second day of trading, tumbling as much as 10.5 percent and matching the speed at which Facebook Inc. gave up its IPO price following its botched offering nearly seven years ago.

Lyft’s shares hit a session low of $69.12 on April 1, well below the company’s IPO price of $72.