Upswing of the stock markets and IPO of Lyft

Published on: 01-Apr-2019
Category: Trading
Last updated: 01-Apr-2019

Upswing of the stock markets and IPO of Lyft

Stock markets in upswing

After a boost on China's stock exchanges, the German stock market is doing the same. In the second quarter of the year, the DAX rises to over 11700 points thanks to strong auto stocks such as BMW, Daimler and VW. Although there is still a trade dispute between the US and China, small and medium-sized industrial companies in China are doing well. This is also reflected in other Asian stock exchanges, such as the Japanese or the South Korean, where prices went up again. The US stock market is also doing well. Among other things, a buoyant real estate sector and the rising Michigan index, which reflects the economic sentiment.

The DAX has been recovering for a week now, achieving gains of 1.4%. Car brands such as Daimler, Volkswagen, BMW and Continental expanded their profits to more than 3 percent. It's also going well on Wall Street, where the Dow Jones Industrial has risen to nearly 26,000 points.

Wirecard's share is recovering

The stock of payment service provider Wirecard is recovering and rising again by 3 percent to 115 euros, after it had slumped by 10 percent. This was due to allegations by the Financial Times that a fraud case was going on in Singapore.

IPO of Lyft

The initial public offering of Lyft was strong, but the first course had to expect more. This was $ 87.24 and then dropped to $ 72 per share. The price went up to $ 78.29 and then the trade ended. The original price was $ 62 to $ 68 and has risen significantly by 21 percent due to investor interest. The start-up has a good value of 23 billion dollars and collected 2.3 billion dollars before its IPO. Lyft is the first company that has not yet made a dollar profit and still goes public. And that under the great pressure of the competitor Uber. The companies both offer the same supply and compete fiercely, though they both accumulate extremely high losses.


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