FILE PHOTO: Signage for Lyft is seen displayed at the NASDAQ MarketSite in Times Square in celebration of its initial public offering on the NASDAQ Stock Market in New York, U.S., March 29, 2019. REUTERS/Shannon Stapleton/File Photo
Shares of the money-losing San Francisco company fell as much as 4.2 percent to $66.10 on Tuesday, their second straight session of losses after a hotly anticipated $72 initial public offer on Friday. The stock was down 2.3 percent at $67.41 early on Tuesday afternoon on the Nasdaq. Seaport Global initiated coverage of Lyft with a “sell” rating and a $42 price target, with analyst Michael Ward calling the stock’s current valuation a “leap of faith” that consumers will forego owning cars in favor of using ride-hailing services.
Another five analysts have initiated coverage of Lyft, with two of them recommending the stock and three assigning neutral ratings.
Nobody is going to give up their car to use Lyft or Uber. It is a ridiculous assumption.
Hot air bubble stock over valued with no underlying value.
Folks, it's still not too late to short $lyft, and get in on the action while you still can.
Not foorr nothing, but isn't this pretty common?
losing a billion dollars a year will do that to you
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: MarketWatch - 🏆 3. / 97 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »
Lyft IPO: 5 things to know about the ride-hailing company ahead of its IPOLyft Inc. appears poised to beat rival Uber Technologies Inc. to an initial public offering, and that’s important for a number of reasons.
Source: MarketWatch - 🏆 3. / 97 Read more »
Source: Reuters - 🏆 2. / 97 Read more »
In market debut, Lyft counters Uber with 'nice guy' imageLyft Inc has been challenging larger ride-hailing rival Uber Technologies Inc fo... Uber 🔜 lyft Merger & Acquisition ..., and they lived happily ever after 🖤💖 Both same thing... both fake “contractor drivers” and sell the more expensive app in human history
Source: Reuters - 🏆 2. / 97 Read more »
Lyft Inc. Cl ALyft Inc. Cl A stock price, stock quotes and financial overviews from MarketWatch.
Source: MarketWatch - 🏆 3. / 97 Read more »
Source: CNBC - 🏆 12. / 72 Read more »
Source: CNBC - 🏆 12. / 72 Read more »
Source: CNBC - 🏆 12. / 72 Read more »