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.

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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".