Ride-hailing startup Lyft may bear the distinction of having highest net loss of any maiden public company ever going public, but despite that, it made its debut in a high gear this morning. Trading as LYFT on Nasdaq, the company’s shares opened at nearly noon today at $87.24, a pop of 21 percent on the $72/share figure the company set last night, when it raised $2.34 billion from investors, valuing the company at $24 billion.

The bigger question will be how Lyft handles the markets longer term, whether it continues to rise or faces the “Snap” effect. So far… it’s not great, with trading already down in the first hour and currently at $81.20 — although still higher than its offering price last night.

Expectations for

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