Shares skid below IPO price in Complete trading

Lyft’s stocks have slumped almost 12 after the firm’s initial public offering of stock.

The stocks closed Monday down $9.28 at $69.01. That’s below the IPO price of $72 of the San Francisco-based company.

Within their stock market debut Friday, the shares hit $88.60, up 21%, prior to giving ground at the end of the day.

The ride-hailing company has lost money, raising doubts. Even so, the business’s expansion in the last two years wowed some investors.