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5/15, 6:20 PM (Source: TeleTrader)
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Lyft soars over 5% as Uber climbs over 3%

Ride-hailing tech companies Lyft Inc. and Uber Technologies Inc., recorded sharp increases in the value of their stocks on Wednesday, rebounding after losses that followed their weaker-than-expected IPO performance.

After posting gains upwards of 6%, Lyft's shares were up 5.46% at 12:19 pm ET to reach $53.28, which is 26% below its IPO price of $72 per share. At 12:05 pm ET, Uber advanced 3.60% to $41.40, still under the $45 per share range it set for its IPO that would have given it a valuation of $82.4 billion.

Breaking the News / NI