MORE THAN SINGAPORE STOCKS, STRAITS TIMES OR SGX NEWS BLOG. SINGAPORE STOCKS INVESTING (“SSI”): SHARING A DEFENSIVELY OPPORTUNISTIC EQUITY-INVESTING MODEL: STABLE STI CORE, MULTI-BAGGED BY SELECTIVE INTERNATIONAL PICKS!

WE HAVE MOVED!

new website:SGSTOCKSINVESTING.COM VISIT US THERE!

Monday, April 1, 2019

LYFT STOCK DEBUT! MY EXPERIENCE TRADING LYFT FINALLY REVEALED!



Dear readers, LYFT stock opened to much fanfare last Friday 29 Mar 2019.

LYFT had priced its IPO at the upper end of an indicative range, at USD 72 per share to be precise. Looking at the oversubscription rate of this stock pre-IPO, I had expected that this IPO to do well on its first day of IPO.


To be more specific, I had expected that LYFT stock to surge in price for the first few hours of Day 1 of the debut followed by a close at lower price on the same day.

Translating my thoughts to strategy, I formulated my strategy which was to grab LYFT stock once it opened on the US stocks markets by placing a Buy order at much higher price than USD 72 and thereafter aimed to sell it for a quick contra profits before my expected lower closing of this stock (than the opening price) on the same day. This was also my strategy for Levi.

I set my Buy order at 15% above the IPO price at USD 83 and sought to sell LYFT at around USD 98 as I expected the IPO to surge by at least 35%. When LYFT stock opened an hour or so after the US stocks markets opened, it opened at USD 87 or some 20% higher than the IPO price. Thereafter, LYFT stock did not attempt to break much higher to USD 90 or more and in fact the stock spent sometime consolidating at USD85 to USD 87 level.

By then, I already knew that it was time to withdraw my order and my interest in this stock. LYFT eventually closed at USD 78.29 last Friday. Join the emailing list to receive regular Financial and Singapore stocks newsletters too! Like" me on Singapore Stocks Investing Facebook page to receive all posts on your Facebook as well as read more articles. Follow me on Twitter too.


SSI INVESTMENT STRATEGY: STABLE STI CORE, MULTI-BAGGED BY SELECTIVE INTERNATIONAL PICKS! FIND OUT MORE HERE !



Popular Posts

Blog Archive