LYFT... Off...

Another day, another collapse in LYFT's stock price (down 7 of the 12 trading days in its lifetime) - now down 37% from its highs and 22% below its IPO price.

The driver of today's weakness - if one needs a catalyst - is that Lyft has pulled thousands of electric pedal-assist bikes from the streets of New York, San Francisco, and Chicago. The company, which operates bike-share programs in roughly a dozen US cities through its acquisition of Motivate in 2018, said the move was out of an abundance of caution and only affecting the three specific cities.

Meanwhile, as Bloomberg reports, short investors have already begun racking up positions. According to financial analytics firm S3 Partners LLC, there has been active short selling in Lyft shares, with a staggering 75 percent of the free float held short.

In a report published on April 12, S3’s managing director of predictive analytics Ihor Dusaniwsky said Lyft short sellers have fared better than post-IPO long shareholders.

Shorts were up $43 million in mark-to-market profits on Friday, bringing their post-IPO profits to $202.4 million, Dusaniwsky wrote.

Don't worry about the IPO pipeline though - as CNBC's Bob Pisani confirmed: "LYFT is a one-off."