Why Uber Splurged on a $170 Million Investment as It Laid-off Thousands
Uber led a $170 million investment round in micro-mobility firm Lime just hours after announcing it was laying off 3,700 employees.
Lyft
Lyft Stock Is Plunging – It’s Only a Matter of Time Until Google Gobbles It Up
Google always should have had its eye on Lyft, and now that Lyft’s stock has been devastated, Google is in a position to buy.
Coronavirus Pandemic Exposes the Gig Economy for the Flawed Industry That It Is
Gig workers get a raw deal at the best of times. During the coronavirus pandemic, they’re suffering even more than usual. Will they get help?
Lyft Is Becoming Lean and Mean, So Why Is the Stock Dropping?
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.
Lyft Co-Founder Talks ‘Undervalued’ Stock. Insiders Then Make Millions Hitting Sell
Just last week Lyft co-founder was bullish on the stock. The sell-off by the insiders has netted millions of dollars. Lyft shares are currently on the rebound from last month’s record low. On the day that Lyft (NASDAQ: LYFT) co-founder and President John Zimmer suggested that the stock was a buy, insiders at the ride-hailing … Read more
California Politicians Heroically Cut Jobs and Hike Taxes with Anti-Uber Bill
A controversial new bill targeting ridesharing companies goes into effect in January 2020 in California. The bill brings benefits for drivers classified as ‘contractors’ by companies like Uber and Lyft. The bill could, in theory, prohibit some drivers from working due to regulations. As per usual, the government is using its regulatory power to destroy … Read more
Airbnb Isn’t Just Any Unicorn About to IPO. It Actually Makes Money
The newest stock market unicorn to announce its IPO plans is Airbnb. The short-term rental company, which has exploded in popularity over the past few years, announced that it may seek to file for its initial public offering next year. Its most recent fundraising round resulted in a valuation of $35 billion. Airbnb Justifies Its … Read more
California AB5 Threatens to Permanently Kill Lyft & Uber
The first major regulatory assault on rideshare is about to crash headlong into Lyft and Uber, courtesy of California bill AB5. California Bill AB5 Could Kill Rideshare The California legislature appears certain to pass AB5, which would effectively force Lyft and Uber to reclassify drivers from independent contractors to employees. Governor Gavin Newsom has publicly … Read more
Uber’s Wheels Are Coming Off amid a $1 Billion Loss
Mega-unicorn Uber reported earnings, or rather losses, on Thursday that demonstrate why hype doesn’t always work in a company’s favor. Let’s hit the headline numbers and explain what they mean for Uber’s stock. Solid Growth Across the Board Just like its rival, Lyft, Uber saw a significant increase in gross bookings. That metric was up … Read more
Uber and Lyft Threaten Duopoly, Rideshare Customers Cry Foul
Lyft Chief Financial Officer Brian Roberts claims that losses the company suffered in 2018 were very likely the “peak” with better times around the corner. On a call with investors, Roberts said that an increase in revenue per rider was behind Q2 earnings completely smashing Wall Street expectations. Third-quarter sales, as well as full-year sales, … Read more
Lyft’s Loss Could Have Been Worse, Investors Throw the Stock a Lifeline
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. Good News Lyft delivered … Read more
J.D. Power: Consumers Terrified of Self-Driving Cars; Tesla and Rideshare Screwed
Survey and research powerhouse J.D. Power released the results of its Power Mobility Confidence Index, and the news was terrible for self-driving and electric vehicles. That, in turn, means bad news for Tesla, Uber, Lyft and other electric car manufacturers. Nobody Wants Skynet Behind Their Wheel In short, the J.D. Power survey found that consumers … Read more
Lyft Stock Recoils, But COO’s Shock Departure Has a Silver Lining
Lyft’s Chief Operating Officer, Jon McNeill, is leaving the company after only 18 months on the job. Lyft stock slid 2.27% on the news. 3 Possible Reasons Why the COO Flew the Coop For senior management to depart a position as necessary as operations after only 18 months, there are usually only three possible explanations. … Read more
Why Fiverr, Beyond Meat, & CrowdStrike Stock Defied the Uber IPO Curse
By CCN.com: The Uber and Lyft IPOs went absolutely nowhere, despite enormous hype and anticipation. Since then, other IPOs from lesser-known companies like Fiverr, CrowdStrike, and Beyond Meat have soared. Why are these stocks getting the love when the long-anticipated Uber and Lyft IPOs flamed out in spectacular fashion? There are different reasons for each, … Read more
Time’s Running Out to Bet Against Billion-Dollar Loser Uber’s Stock
By CCN.com: The first earnings report for Uber stock is about to be released, and UBER is expected to have lost over a billion dollars in Q1. This loss comes despite an expected 20 percent revenue increase to $3.07 billion over last year’s same quarter. By loading the tweet, you agree to Twitter’s privacy policy.Learn more … Read more
Lyft’s Car Rental Program Is a Sucker’s Bet for Drivers
By CCN.com: 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). Yet the scam never really went away, … Read more
If You Stupidly Invested $1,000 in the Uber IPO, Here’s How Much You Threw Away
By CCN.com: The Uber stock price continues to freefall today following a historically terrible initial public offering (IPO). Last Friday, Uber held its first day as a publicly traded company with a starting price of $42 – already three dollars below its IPO price. Throughout the day, the stock continued to slide, ending at $41.70. … Read more
Lyft Conceals Key Data to ‘Avoid Investor Confusion’ as Stock Withers
By CCN.com: 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. Hey Investors, Lyft Knows … Read more
Lyft Stock: ‘Totally a Success’? Company Has Its Head Stuck in Sand
By CCN.com: Lyft’s stock remains stuck in the doldrums, trading 22% below its IPO price of $72. Yet, the company appears to have its proverbial head stuck in the sand about its stock market debut flop. Lyft board member Maggie Wilderotter believes the Lyft IPO on the Nasdaq was “totally a success,” she told CNBC. … Read more
Uber IPO Hype Machine Sputters as Stock Pricing Exposes True Valuation
By CCN.com: The Uber IPO is one of the most anticipated stock market debuts of the year as the ridesharing company plans to raise $10 billion, but the company’s amended S-1 filing suggests that it won’t be anything more than a damp squib. Uber expects its IPO to be priced in a range of $44 … Read more