On Friday, Lyft's shares hit the market, raising $2.3bn for the “nice” ride-sharing company in the process. After an initial pop-- as is customary in financial markets, for reasons best left unexplained — to as high as $88.60, they closed the day 8.7 per cent above the initial pricing of $72 a share, at $78.29.
But today, it seems Mr Market has woken up to realise Lyft is trading at 10x sales with negative -44.3 per cent ebitda margins and is operating in a market with no proof of profits.
Oops:
Down 9.2 per cent at pixel, to $71.15.
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YOu would have to be both stupid and a aunt to have invested in that IPO
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Wait, it isn't worth as much as $88?
Shocked I tells ya, totally shocked
From a selection of quotes this was my fav
"Lyft may have managed to gain market share from Uber as a result of several controversies, many of which took place in the months leading up to the announcement [report of increased market share immediately before the IPO]...
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worry not
next up
Uber!
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Word has it we will see the ongoing IPO march of the unicorns this year, before the window closes for them.
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Lyft - a business that loses money on every sale it makes, and can only hope to make money if autonomous cars come along and it can ditch its driver workforce. Autonomous cars will not work without 5G and 5G is at least three years away.
Not. Going. To. Work.
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