RIDEGURU
Mumbo jumbo to me, but it doesn't sound rosy.
Summary
- Lyft expects to IPO at the end of this week.
- The ride-sharing transportation service is nowhere close to generating a profit.
- The stock appears poised to pop on the IPO, setting up new investors for failure at a valuation near 10x forward sales.
Right now, Lyft (LYFT) is following the path of the IPOs that have eventually failed in the last few years such as Snap (SNAP). The IPO is reportedly oversubscribed suggesting an initial pop in the stock, though the company faces considerable challenges with turning into a profitable business model in an increasingly competitive environment similar to the social-messaging stock that plunged to $5 after the initial pop.
https://seekingalpha.com/article/4251189-lyft-ipo-will-likely-snap
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