Since Lyft's IPO is oversubscribed, does it mean I have no opportunity to get any stock if I try to bid for the IPO stock now? How does that work?

For future reference, when a stock is oversubscribed, the bookrunners would work out a method to give partial allocations - so even if find out an IPO is oversubscrbied, if you really want in - you can still put in an order (as long as it is during the IPO window) - but be prepare you might get a scaled back allocation.