2020-1-30 00:46 |
Investors may be missing the forest from the trees. Lyft's layoffs were selective, affecting sales and marketing divisions. The company reportedly plans on hiring 1,000-plus employees this year.
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Just last week Lyft co-founder was bullish on the stock. The sell-off… The post Lyft Co-Founder Talks ‘Undervalued’ Stock. Insiders Then Make Millions Hitting Sell appeared first on CCN.com
Lyft delivered second-quarter earnings on Wednesday. Losses were still gigantic although a bit less than expected. The rest of the news was mostly bad but with a few bright points. Let’s parse the most important numbers to see what Lyft is telling us and where the stock may go from here.
Lyft delivered second-quarter earnings on Wednesday. Losses were still gigantic although a bit less than expected. The rest of the news was mostly bad but with a few bright points. Let’s parse the most important numbers to see what Lyft is telling us and where the stock may go from here.
By CCN: One of the earliest scams in the rideshare world was providing cars to drivers who didn’t have one or couldn’t afford one. It was particularly insidious early on because Uber was touting salaries of $96,000 a year for its drivers (which turned out to be nonsense).
By CCN: Lyft’s first earnings report was downright ugly, and not just because the company lost $1 billion in a single quarter. Investors expected a less-than-stellar balance sheet, but it was the backhanded slap in the face a company executive delivered to investors that leaves questions about the rideshare darling’s transparency.
Lyft is getting crushed on the first trading day following its much-hyped IPO, and unsophisticated investors are learning the hard way that it’s not a good idea to plow into companies as soon as they go public.