Shares of recently listed Lyft Inc fell to a fresh low and closed the day down almost 11 percent on Wednesday on news that rival Uber Technologies Inc was close to filing its own initial public offering. In ride-hailing company Lyft's ninth day of trading its shares clocked their lowest closing price since going public on March 29. Reuters reported late Tuesday that rival Uber would seek to sell around $10 billion worth of stock in an IPO, and file the offering with regulators as soon as Thursday.
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