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Lyft sinks 12%, falls below IPO price - Calling it a "Gut check for Uber"

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bBerman81
268 Rider
 Posted 1 year, 1 month ago

CNBC

https://www.cnbc.com/2019/04/01/lyft-stock-is-tumbling-after-a-lukewarm-market-debut.html

Seeking Alpha

https://seekingalpha.com/news/3447410-lyft-sinks-10-percent-hedgeye-sees-big-downside

Comments

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    HerbMercedez
    22
     1 year ago

    Gut checking indeed. Will this botched IPO negatively affect Uber's IPO. Me thinks yes.

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    Wes
    1581 Rider Driver
     1 year ago

    I considered buying some - and then had to check myself.  What was I even thinking.  Knowing that both companies have NEVER made the first cent of profit, and knowing that going forward it is clearly NOT going to be smooth sailing, I personally wouldn't even consider it at this point.

    As driver's, we all know how poorly they value their drivers.  I cannot with a clear conscience invest in the company until they restore our rates to a more livable rate.  Big business continues to push the American worker to the absolute minimal level with zero concern about the well being of their employee's.  Fortunately there are still job opportunities remaining that pay well, and thankfully I have a day job that has delivered a livable income for 30 years - BUT, I know hundreds of folks that are living week to week and it's a sad state of affairs.  

    Now that Lyft and Uber will be forced to answer to their shareholders and have a high level of expectatio...

    Read more...

    I considered buying some - and then had to check myself.  What was I even thinking.  Knowing that both companies have NEVER made the first cent of profit, and knowing that going forward it is clearly NOT going to be smooth sailing, I personally wouldn't even consider it at this point.

    As driver's, we all know how poorly they value their drivers.  I cannot with a clear conscience invest in the company until they restore our rates to a more livable rate.  Big business continues to push the American worker to the absolute minimal level with zero concern about the well being of their employee's.  Fortunately there are still job opportunities remaining that pay well, and thankfully I have a day job that has delivered a livable income for 30 years - BUT, I know hundreds of folks that are living week to week and it's a sad state of affairs.  

    Now that Lyft and Uber will be forced to answer to their shareholders and have a high level of expectation to deliver profits, there is absolutely NO way they are going to help their drivers until they are forced to do so, and as long as we continue to drive and new people are coming on board, that isn't going to change.

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      lionfool
      236 Rider Driver
       1 year ago

      Good job. These are "companies" that literally only lose money. Where I come from that is called a "scam".