By Breakingviews
The most hyped initial public offerings of 2019 have performed about the worst. Among the pack of this year's debutants that have a current market capitalization of at least $2 billion, ride-hailing outfits Lyft (LYFT) and Uber Technologies (UBER) are rare laggards. Plant-based burger maker Beyond Meat (BYND) is the top performer. Other winners for IPO buyers suggest investors see a bright future for many businesses - except perhaps the so-called gig economy.
Maybe it was inevitable that first-comer Lyft, now worth $18 billion, and the larger Uber, tipping the valuation scales at