Shares of Lyft are down more than 20% for the week as investors finally got their first look inside its rival's business, Uber. The stock is on track to close in the negative four out of five days this week and drop $3 billion in market capitalization.
Lyft continued to plunge about 3% on Friday after Uber released its S-1 where it reported 2018 revenue of $11.27 billion compared to Lyft's $2.2 billion. Uber said it posted a net profit of $997 million in 2018, thought it has a loss of $1.85 billion on an adjusted EBITDA basis. Lyft reported a loss of $911 million in its public filing.
Wedbush Securities analysts gave Lyft a neutral rating on Friday with a 12-month price target of $80, saying concern they've heard from investors prior to Uber's S-1 are not eased much now that it's public.
lyft shares down again today. Getting hit hard. -30% from the high. Ugly chart. Flippers still dumping.
One week doesn't make an investment. See what happens after a year, or 2 years, or ~5~ years, then we'll talk. stopbeinghysterical
WallStreet has ruined IPOs.
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