52.99 -0.80 (-1.49%)
Pre-Market: 6:50AM EDT
|Bid||52.22 x 3000|
|Ask||54.20 x 1100|
|Day's Range||53.46 - 55.11|
|52 Week Range||47.17 - 88.60|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||73.21|
Uber Technologies and Beyond Meat are among new IPOs with interesting stock charts. But Pinterest and Lyft show why you shouldn't buy IPO stocks right away. Here's how to handle them.
It's been a rough two years for consumer IPOs, from Snap in 2017 to Uber and Lyft this year. Private market investors are generating all the returns, which is exactly what the experts have predicted for years. Nobody in Silicon Valley should be surprised by Uber's UBER disappointing IPO.
In the wake of the companies’ disappointing IPOs, investors are starting to wonder whether ride-hailing is an attractive business model
Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Lyft, Inc. (LYFT) pursuant and/or traceable to the Company’s March 2019 initial public offering (the “IPO” or the “Offering”). The lawsuit seeks to recover damages for Lyft investors under the federal securities laws. To join the Lyft class action, go to http://www.rosenlegal.com/cases-register-1558.html or call Phillip Kim, Esq.
Luckin Coffee Inc. closed up 20% after raising $561 million, while Fastly Inc. ended its first day of trading up 50% after its $180 million listing. Avantor, owned by New Mountain Capital, sold 207 million shares for $14 each on Thursday. Avantor had increased the number of shares for sale earlier Thursday, but dropped the price range to $14 to $15 each from a previous target of $18 to $21.
(Reuters) - Lyft is sued by investors over its initial public offering - court filing Lawsuit also names Lyft executives and bank underwriters as defendants. Lawsuit claims Lyft misled investors about ...
Option Pit founder Mark Sebastian told Yahoo Finance On the Move that he doesn't think the Federal Reserve will cut interest rates later this year.
Block & Leviton LLP (www.blockesq.com), a Boston-based securities litigation firm representing investors nationwide, has filed a securities fraud class action against Lyft, Inc. (LYFT), certain of its officers and directors, and underwriters of its recent initial public offering, alleging violations of the Securities Act of 1933. The lawsuit alleges that Defendants made false and misleading statements in Lyft’s registration statement and prospectus issued in connection with the company’s March 29, 2019 initial public offering.
Recent IPOs by unicorn company giants like Uber and Lyft have investors dreaming of IPO stocks of yore. But will they become great growth stocks? Here's what you need to know.
San Francisco is notorious for being the most expensive city in the U.S., but that hasn’t stopped affluent tech workers from snapping up real estate in this particular neighborhood.
One big difference between this decade and the 1990s dot-com boom is that the swells are making the big profits and the small investors are just getting trickled on. Risky IPOs seem to be increasing.Source: Shutterstock This was never truer than in the recent Uber (NASDAQ:UBER) IPO. Beyonce Knowles, who took a $6 million fee for an Uber corporate event in stock three years ago, had $300 million, despite the IPO's failure to achieve lift-off.Meanwhile, unless they took me seriously and shorted the thing, small Uber investors remain under water. The shares were due to trade May 16 at about $41.40, still below the $43 they were offered at. The stock chart of rival Lyft (NASDAQ:LYFT) remains a ski jump, the shares trading almost $25 below its first trade.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 6 Chinese Stocks That Could Pop On a Trade Deal The question now is whether this "Uber Effect," as I'm calling it, will cause other unicorn IPOs to be "down rounds." Risky IPOs Are Part of the DealA lot depends on whether investors can see the unicorns making a profit.WeWork, which filed its S-1 under seal in December, calls its $264 million loss during the first quarter, on $728 million in revenue, "investments." If you buy that I have a bridge over the East River to sell you. WeWork had "investments" (losses) of $1.9 billion last year. At its present rate it will lose another billion this year.Not all this year's risky IPOs have been failures. Zoom Video Communications (NASDAQ:ZM) literally zoomed out of the box after its IPO, up 28% from its first trade. It opened May 16 with a market cap of $20.6 billion.Zoom is a web conference service, something that's been around for decades. What made Zoom a caviar dream and Uber a pile of fish eggs? Profit! Its S-1 showed that Zoom made $7.584 million, 3 cents per share, for the fiscal year ending in January, on revenue of $330 million, double the figure of the previous year.Not all successful IPOs make such plain good sense.Beyond Meat (NASDAQ:BYND) has jumped 30% from its IPO on May 3, despite reporting a net loss of $4.75 per share for 2018. People may be confusing it with Impossible Meat, still privately held, whose non-meat patty got rave reviews from Burger King, a unit of Restaurant Brands International (NYSE:QSR), which itself is up 27% so far this year.Uber and Lyft have always been contradictions, taxi companies whose profit promise was based on getting rid of the drivers. The idea is that the data from the cab rides would let them dominate the rental of autonomous vehicles when they finally arrive. The Bottom Line on Risky IPOsThe IPO calendar is crowded with unicorns whose investors want to cash out. These include Luckin Coffee (NASDAQ:LK), the Chinese coffee chain and three biotechs -- Peloton Therapeutics (NASDAQ:PLTX) Ideaya Biosciences (NASDAQ:IDYA), and Bicycle Therapeutics (NASDAQ:BCYC).Coming up behind them are data-mining company Palantir, backed by German-born Trump fan Peter Thiel, Pinterest, the web site as clipboard metaphor, workplace messaging company Slack, and Robinhood, a mobile-first brokerage that failed to become a bank last year.In all these cases, my advice is the same. Read the S-1 carefully. Ask if the company is making money and, if not, when it will. Pretend you're a skeptical banker, not a hungry speculator.Because in all these cases, that's what you are. The speculators are the ones looking to sell their stock. The fast profit they're looking for is your money.Dana Blankenhorn is a financial and technology journalist. He is the author of a new environmental story, Bridget O'Flynn and the Bear, available now at the Amazon Kindle store. Write him at email@example.com or follow him on Twitter at @danablankenhorn. As of this writing he owned shares in QSR. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Stocks to Buy that Lost 10% Last Week * Top 7 Dow Jones Stocks of 2019 -- So Far * 5 Service Stocks That Can Win the Trade War -- According to Goldman Sachs Compare Brokers The post First Lyft Then Uber, Risky IPOs Just Are the Order of the Day Now appeared first on InvestorPlace.
Who's to blame for the Pinterest earnings flop? Try the company. In an interview with Cheddar, IPO Edge Editor-in-Chief John Jannarone explains why Pinterest either misled investors or is very bad at forecasting its own results. He also explained why Chinese coffee chain Luckin Coffee priced its IPO right and should trade well. Contact: www.IPO-Edge.com […]
Investors are souring on unicorns that don't turn a profit, and the hype party could be coming to an end.
If you like Ford Motor Company (NYSE:F) stock or the shares of other American-automotive icons like General Motors (NYSE:GM) or Fiat Chrysler (NYSE:FCAU), you should avoid buying them anyway. In fact, I urge you to do so. I'm going to unleash hell on Ford stock, and American cars in general. If you get emotional, that's your responsibility.Source: Barbara Eckstein via FlickrLet's talk about why F stock has garnered significant interest lately. Since the start of this year, Ford stock has gained 32%, which is remarkable. * 6 Chinese Stocks That Could Pop On a Trade Deal But auto sales have flatlined for the last four years. Additionally, ride-share services like Uber (NYSE:UBER) and Lyft (NASDAQ:LYFT) have transformed personal transportation.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIt also doesn't help that millennials just don't care for buying cars as previous generations did when they were young. Millennials are growing up at a time when multiple, private transportation options exist. However, it's also true that young Americans are comparatively financially strapped.If they're going to buy a car, they need a reliable one. That hurts Ford because it's not the most reliable automaker. That leads me to the first of my many unpleasant points: American Cars Stink, and So Will Ford StockI just have to say it: American cars are terrible. Over the past several years, Detroit has promised it would compete effectively against the Japanese and Germans. I still remember Chrysler's "Imported from Detroit" tagline. It was a clever, catchy piece of marketing genius.Unfortunately, it was also pure nonsense. Part of the appeal of owning an American car is that, well, it's American. Back in my high school days, our principal said that it's important to buy American cars to support our economy. But it's equally critical for domestic manufacturers to compete overseas.I'm sure my principal's sentiment was repeated across the nation. The fact that people have to resort to patriotism to tout American automakers , though, indicates that American cars can't compete on quality, reliability or attributes. Americans Reject Their Own CarsF stock and American cars in general are emblematic of this great nation's many problems. They appeal to folks on a superficial basis, but are very weak when it comes to fundamentals.Look at the politicians who supposedly "serve" their constituents. How many of them personally drive American cars when the cameras aren't looking? Probably very few.Exhibit A is President Donald J. Trump. As a tall, rich, (arguably) good-looking white man with a sharp tongue, he obviously appeals to the patriotic crowd. Today, he "drives" an American car because he has to.But when he was just "The Donald," he didn't seem to care too much for domestic rides. Remember that episode of The Apprentice when he showed up in an exotic Mercedes-Benz sports car? How quickly we forget that, at one point, Trump's most-prized automotive possessions were a Rolls-Royce and a Lamborghini Diablo!Why, then, should I buy an American car when my own President doesn't even exclusively buy American cars? Hard Numbers Condemn F StockIf you got through all that without cursing, congratulations! You probably dismissed my arguments against Ford stock as subjective reasoning. But now, we're going to get into the numbers.Honestly, they just don't look good for F stock. The last time its quarterly revenue hit a peak was in June 2007. At that time, sales slightly exceeded $44.2 billion. Since then, the automaker has failed to equal that haul, despite our supposedly robust economic recovery.Compare the malaise of Ford Motor Company stock to its fierce rival, Toyota (NYSE:TM). From an automotive perspective, I'm not a big fan of TM, either. I find their cars intractably boring. But as a business and an investment, it's doing pretty well, despite the shortcomings of its products.Toyota's quarterly revenue peaked in March 2012, with a haul of just under $72 billion.Its top line has been declining ever since. The difference, though, is that TM is climbing back. Toyotas have broad appeal in Japan, the U.S., and Latin America. With its Lexus luxury brand, it's also capturing some snobby Europeans.Ford is doing what it does best: give up. With that kind of loser's mentality, I just can't trust Ford stock for the long haul. Even a Tailwind for Ford Motor Company Stock Is Dying!Don't think that I'm completely biased against Ford stock. The one area where it excels is big, heavy trucks. In that area, Detroit is currently untouchable.Sadly, though, this market is fading. Sales of heavyweight trucks last peaked in 2006, shortly before the housing and banking crises.I'm not sure if the segment will ever regain its prior peak. The entire automotive landscape is changing. What hurts Ford stock, though, is that its Japanese and German rivals have adapted to the changes. Detroit hasn't, which is why I don't trust the rally of Ford stock at any price.As of this writing, Josh Enomoto did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Great Stocks to Buy on Dips * 6 Growth Stocks to Buy for the Rest of 2019 * 4 Mega-Cap Stocks to Sell Before They Melt Down Compare Brokers The post Why I Canat Trust Ford Stock at $10 Or Any Price appeared first on InvestorPlace.
Digital scrapbooking company Pinterest beat Wall Street’s sales expectations in its first quarterly report since going public, but a weaker-than-expected full-year outlook sent shares sharply lower during extended trading.
The vehicle unveiled by Usain Bolt has a swappable battery and seats one passenger in the front and one in the back. Usain Bolt's Mobility company has launched a two-seater, all-electric and zero-emission vehicle. Dubbed the Bolt Nano, it was unveiled at the VivaTech conference in Paris Thursday.
The We Company, parent company of WeWork, is the latest in a string of start-up unicorns set to go public this year. It is valued at $47 billion, but like other newly public companies such as Lyft and Uber, WeWork isn't turning a profit. Instead, it's hemorrhaging cash.
In the WJLA report, ride-share drivers revealed how they tricked the system into thinking that there were no drivers nearby and waited till prices rose.
Self-driving cars may reshape more than our streets. In this web exclusive, correspondent David Pogue talks to John Zimmer, co-founder and president of the Lyft ride-sharing service, about the future of transportation, and what will change as new technologies make us less and less dependent on owning a car. Don't miss Pogue's report on autonomous vehicles on "No Exit!," a "CBS Sunday Morning" primetime special, Friday, May 17 at 9 p.m. ET/PT.
With more IPOs hitting the market, and trying to avoid the same fate as Uber and Lyft, many on Wall Street are getting back to fundamentals to evaluate performance of these unicorns. Yahoo Finance's Alexis Christoforous and Brian Sozzi speak with Nela Richardson, Investment Strategist at Edward Jones and Michael Purves, Chief Global Strategist at Weeden & Co.
John Elton of Greycroft Partners and CNBC's Leslie Picker join "Squawk Box" to discuss how Uber's stock is doing one week after being a public company.