LYFT - Lyft, Inc.
| Previous Close | 39.80 |
| Open | 39.80 |
| Bid | 40.68 x 2200 |
| Ask | 0.00 x 2200 |
| Day's Range | 39.66 - 41.18 |
| 52 Week Range | 37.07 - 88.60 |
| Volume | 5,535,175 |
| Avg. Volume | 6,173,478 |
| Market Cap | 12.029B |
| Beta (3Y Monthly) | N/A |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | -7.45 |
| Earnings Date | Oct 30, 2019 |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | N/A |
| 1y Target Est | 71.56 |
- Reuters
Ride-hailing companies Uber, Lyft won't testify before Congress: report
Uber Technologies Inc and Lyft Inc have declined to appear at a U.S. House of Representatives hearing on Wednesday on issues relating to the ride-hailing industry, the Washington Post reported, citing company and congressional sources. The two ride-hailing companies had been asked to appear as part of a House Transportation and Infrastructure Committee inquiry on safety and labor practices as lawmakers seek to prepare legislation that will impact the industry. The head of the panel, U.S. Representative Peter DeFazio, urged the companies' chief executives in a letter this week to participate in the inquiry even as Uber and Lyft directed lawmakers to third-party industry associations.
- Zacks
Is the IPO Party Over? ETFs in Focus
We take a look at the IPO landscape and ETFs that provide a safer way to invest in in newly public companies.
- Yahoo Finance
Why Saudi Aramco’s ‘aspirational’ $2 trillion listing is leaving investors cold
Saudi Aramo is forging ahead with IPO plans that may value the company at $2 trillion, as investors weigh the risks associated with the offering.
- Yahoo Finance
An exclusive look inside a leading VC firm backed by Richard Branson
Entrepreneur brothers Courtney and Carter Reum's three-year-old venture firm announces a new fund, backed by Sir Richard Branson, Arianna Huffington and Hong Kong billionaire Silas Chou.
- Investopedia
30 New Public Companies Including Uber Face Selloffs by Year-End
Lockup clauses for newly public companies are slated to expire, posing a threat to the larger market.
- Reuters
House panel 'strongly' urges Uber, Lyft to take part in hearing
Uber Technologies Inc and Lyft have declined to appear at a hearing on Wednesday on ride-hailing industry issues, the chairman of the U.S. House of Representatives panel said, urging them to reconsider. "That is unacceptable," Representative Peter DeFazio told the company's chief executives in letters dated Monday. DeFazio said the House Transportation and Infrastructure Committee held numerous conversations with the companies' staff over the last few weeks, and "strongly urged" the companies to take part in the hearing.
- Reuters
U.S. House panel 'strongly' urges Uber, Lyft to take part in hearing
Uber Technologies Inc and Lyft have declined to appear at a hearing on Wednesday on ride-hailing industry issues, the chairman of the U.S. House of Representatives panel said, urging them to reconsider. "That is unacceptable," Representative Peter DeFazio told the company's chief executives in letters dated Monday. DeFazio said the House Transportation and Infrastructure Committee held numerous conversations with the companies' staff over the last few weeks, and "strongly urged" the companies to take part in the hearing.
- City Lab NonHosted
What Uber Did
In his new book on the “Battle for Uber,” Mike Isaac chronicles the ruthless rise of the ride-hailing company and its founding CEO, Travis Kalanick.
- InvestorPlace
Chances of Profitability for Lyft Stock Are Driving Away
For just a moment, in the summer, it seemed that Lyft (NASDAQ:LYFT) was going to give its first public investors a profit. On July 19 it closed at $67.45, buoyed by favorable moral comparisons with rival Uber (NYSE:UBER).Source: Tero Vesalainen / Shutterstock.com But its results for the June quarter showed no reason for optimism. The shares in both ride-hailing companies are now down over 40% from their initial levels. Lyft is due to report "earnings" on Oct. 30, a loss of $1.67 per share (about $370 million) is expected on revenue of $912 million.With 5% more revenue and continuing losses, it may be time to admit that this whole computer-based sharing sector of the economy is an investment black hole.InvestorPlace - Stock Market News, Stock Advice & Trading TipsSo, what happened? The Savings Weren't ThereThe idea behind these companies was to make a market. Computers would handle the complex dance of pricing, employment and back-end management previously done through regulated taxi companies.It worked. The taxi companies and their government overseers were disintermediated. Cities that didn't previously have taxi services suddenly had them.The problem is that both sides -- drivers and customers -- lost protections the old model had given them. Passengers lost the taxi company's assurance of safety. Drivers lost the companies' assurance of a living wage.After first trying to ban ride-hailing services, cities have moved to regulate them. They have forced drivers away from crowded airports, limited their ability to cruise awaiting passenger calls, sought to impose a living wage and cut off ancillary revenue streams like advertising.The pitch the companies made to investors was that scale would solve the problems of profitability. This hasn't happened. This is why hedge funds and investors are walking away.There was also the idea that drivers were just a short-term solution to the mobility problem. The promise was that the cars would soon drive themselves. The hope was that profits from renting electric scooters and bikes would provide a financial boost while waiting for this to happen. But self-driving taxis aren't coming any time soon, and cities were quick to ban the scooters, because they littered the streets and killed users. Is Profit Possible?What investors are now asking is whether profit is even possible.Lyft insists it can make a profit as marketing costs decline and it continues to scale. Its losses, as a percentage of revenue, have declined, just not quickly enough to satisfy private investors, who demanded it go public, or public investors, who have not taken the losses well.Some Lyft analysts see hope in alternative ride-hailing schemes, like food delivery or moving packages. They compare its slow move toward profitability with Amazon (NASDAQ:AMZN), which lost money for years. But Amazon always had positive operating cash flow. Lyft's $15 million of cash from operations during the June quarter came about only because stock-based compensation plunged. The Bottom Line on Lyft StockScale doesn't solve all of a market's problems.Scale doesn't guarantee safety. In the physical world, scale can create problems of its own, like overcrowding.Most analysts following Lyft still consider the stock a "buy." Maybe they still have stock that needs to be sold, because I don't see it.Ride-hailing should have evolved the way Alphabet's (NASDAQ:GOOG, NASDAQ:GOOGL) Waymo has evolved autonomy, starting with tests that prove the technology in a difficult terrain, then expanding only as the most difficult problems are solved.But hindsight is 20-20, and hindsight doesn't make today's Lyft worth buying.Dana Blankenhorn is a financial and technology journalist. He is the author of the environmental story, Bridget O'Flynn and the Bear, available at the Amazon Kindle store. Write him at danablankenhorn@gmail.com or follow him on Twitter at @danablankenhorn. As of this writing he owned shares in AMZN. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Beverage Stocks to Buy Now * 10 Groundbreaking Technologies Created by Universities * 5 Semiconductor Stocks Worth Your Time The post Chances of Profitability for Lyft Stock Are Driving Away appeared first on InvestorPlace.
- Benzinga
Lyft Steps Up Security In Deal With ADT
Lyft Inc (NASDAQ: LYFT ) and ADT (NYSE: ADT ), a company supplying security and automation for residential and business customers, have partnered to integrate mobile safety into Lyft’s rideshare platform. ...
- American City Business Journals
Phoenix City Council considers charging Uber, Lyft more for airport trips
Uber and Lyft say these fees would make Phoenix one of the most expensive cities for them to operate in. Meanwhile, the airport says it is done subsidizing the commercial ground transportation industry.
- Reuters
UPDATE 1-Lyft follows Uber in suing NYC over cruising time caps
Lyft Inc, following its rival Uber's move, has sued New York City seeking to nullify a new rule limiting the time its drivers are allowed to spend cruising in Manhattan without passengers, the company said on Saturday. "This rule is not a serious attempt to address congestion, and would hurt riders and drivers in New York," Lyft spokesman Campbell Matthews said in a statement to Reuters. The "cruising cap" rule, implemented by the city's Taxi and Limousine Commission (TLC), sets a 31% limit on how much time drivers of app-based vehicles may drive without passengers in Manhattan south of 96th Street, meaning they would have to have fares at least 69% of driving time.
- Reuters
Lyft follows Uber in suing NYC over cruising time caps
The lawsuit, filed by the San Francisco-based ride-hail company on Friday, argues that the cruising rule is arbitrary and threatens to shift business away from ride-hailing companies like Lyft in favor of taxis. "This rule is not a serious attempt to address congestion, and would hurt riders and drivers in New York," Lyft spokesman Campbell Matthews said in a statement to Reuters. The "cruising cap" rule, implemented by the city's Taxi and Limousine Commission (TLC), sets a 31% limit on how much time drivers of app-based vehicles may drive without passengers in Manhattan south of 96th Street, meaning they would have to have fares at least 69% of driving time.
- Insider Monkey
Hedge Funds Are Dumping Lyft, Inc. (LYFT)
Most investors tend to think that hedge funds and other asset managers are worthless, as they cannot beat even simple index fund portfolios. In fact, most people expect hedge funds to compete with and outperform the bull market that we have witnessed in recent years. However, hedge funds are generally partially hedged and aim at […]
- Yahoo Finance
'One app to rule them all is dead': How Uber and Lyft can get disrupted
In Berlin, companies like Uber don't have a dominant hold on transportation. Instead, many companies compete for a slice of the market.
- InvestorPlace
Cheaper Doesn’t Mean Cheap for Lyft Stock
Like so many other IPO stocks, Lyft (NASDAQ:LYFT) keeps falling. The LYFT stock price, just over $38, is barely half its IPO price of $72. The declines have been particularly nasty of late, with LYFT down 42% from highs on Aug. 8, the day after what looked like a solid second quarter earnings report.Source: Tero Vesalainen / Shutterstock.com Admittedly, LYFT does look intriguing here. It's easy to forget amid the carnage in recent IPOs that Q2 earnings really were better than expected. The company raised full year guidance for revenue and lowered its outlook for Adjusted EBITDA loss.Combined with disappointing results from rival Uber (NYSE:UBER), the quarter suggests that Lyft is taking market share. Meanwhile, valuation at least looks more reasonable after the nearly 50% haircut.InvestorPlace - Stock Market News, Stock Advice & Trading TipsEV/revenue of about 2.4x isn't quite as cheap as it sounds given lower margins than other tech companies valued on a top-line basis. But using "contribution margin" -- basically, adjusted gross profit -- LYFT is trading at about 6x gross profit. The combination of a single-digit EV/GP valuation and 72% revenue growth, as Lyft posted in Q2, isn't found in too many places in this market. The recent (albeit unproven) bottom in the LYFT stock price suggests at least some investors see value here.But there are problems with assuming that LYFT is a "buy the dip" candidate. I believe it might be at some point. I don't believe that point has arrived. LYFT and the Private Market ProblemMany IPO stocks this year have plunged. LYFT is down almost half from its IPO price, and UBER 36%. Chewy (NYSE:CHWY) and Peloton Interactive (NASDAQ:PTON) are underwater. Slack Technologies (NYSE:WORK), until a recent bounce, had traded almost straight down after its direct listing.The narrative has been that investors suddenly decided to stop buying unprofitable growth stocks. And trading in already-public names like Shopify (NYSE:SHOP) and Roku (NASDAQ:ROKU), plus the carnage among cannabis stocks, does suggest that valuation finally has become a point of focus.What's tempting about the narrative is that, presumably, sentiment can reverse. After all, growth has sharply outperformed value in this bull market, and after a pause, may well do so again.But there's something else going on with the recent batch of IPOs beyond just a lack of profitability. It seems increasingly clear in retrospect that the private markets that funded those companies before the IPO were in a bit of a bubble. The presence of Softbank (OTCMKTS:SFTBY) alone seems to have boosted valuations, as evidenced by its primary role in the WeWork debacle.Softbank aside, private markets saw a flood of 'dumb money' from pension funds, mutual funds, family offices, and other investors chasing the "unicorn" boom. The flood led to ever-increasing valuations, based often on relatively small equity injections.Those valuations went too far. And so the problem with a company like Lyft isn't necessarily that investors decided to knock the valuation down to a current ~$8 billion (excluding net cash). It's that the $15 billion valuation assigned last year was too high. Those late-stage investors, quite simply, didn't know what they were doing. They created false expectations that public investors would pay even more. It's now clear they won't. Two Key Questions for the LYFT Stock PriceAnd so it's a poor argument to bet on LYFT simply because it's cheaper than it was. It shouldn't have had a $20 billion-plus valuation. It's thus dangerous to hope that the LYFT stock price will follow that of Facebook (NASDAQ:FB) and Snap (NYSE:SNAP). Both of those companies saw steep post-IPO drawdowns -- which were followed by multi-bagger rallies. Lyft's inflated private valuation suggests that path is much less likely.There are two key fundamental worries. The first, as I noted after the LYFT IPO back in May, is the company's relatively modest growth in rides per user. The argument for big upside in both LYFT stock and UBER is based on the companies taking an increasing share of overall transportation. Simply splitting the existing taxi market isn't enough.Lyft didn't break out figures after Q2. On the Q2 call, CFO Brian Roberts said that rides did outpace the growth in riders. In other words, rides per user increased. But it's likely the increase was small -- or else Lyft would have been trumpeting the figure, not ignoring it.Given profitability concerns for both ridesharing companies, the increase almost certainly isn't enough. Lyft can get to profitability, but that alone doesn't support a ~$8 billion enterprise value.Those profitability concerns also go to the question I've asked about UBER: is ridesharing really a profitable model? Investors have worries. Uber's efforts in delivery and freight are one reason why I thought UBER would outperform LYFT -- and despite declines in both stocks, it has.But incremental margins in ridesharing simply may not be as high as hoped -- which means profitability may be further off, and the LYFT stock price may well have even further to fall. All told, investors looking to buy the dip need to have faith in both the model and in management.As of this writing, Vince Martin is long CHWY. He has no positions in any securities mentioned. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Super Boring Stocks to Buy With Super Safe Returns * 10 Winning Stocks to Buy and Stick With for the Long Haul * Don't Give Up on These 4 Cannabis Stocks The post Cheaper Doesn't Mean Cheap for Lyft Stock appeared first on InvestorPlace.
- American City Business Journals
Lyft brings together high-profile Chicagoans to address city’s transportation challenges
Ride-sharing giant Lyft has revealed a list of high-profile Chicagoans that are working with the company to address some of the city’s transportation issues.
- InvestorPlace
Why the Gig Economy Doesn’t Work
2019 has been a big year for tech IPOs, but it's been a huge year for gig economy IPOs. Uber (NYSE:UBER), Lyft (NASDAQ:LYFT), RealReal (NASDAQ:REAL) and Fiverr (NYSE:FVRR) have already gone public and are companies capitalizing on -- or helping to shape the gig economy. Still upcoming, we have Airbnb and Postmates. And even the embroiled WeWork is in some way reliant on the rise of a more transient, less traditional workforce.Source: Shutterstock So what does this all mean? It's hard to say because very few people can agree on what the "gig economy" or "gig work" means.Does it mean anyone who works for an app? Does that include people who are freelancers finding work through platforms like Fiverr and Upwork (NASDAQ:UPWK)? What about contractors who work for a single company but are not officially employees?InvestorPlace - Stock Market News, Stock Advice & Trading Tips Who Is a Gig Worker?The Federal Reserve broadly says that "gig work covers personal service activities, such as child care, house cleaning, or ride-sharing, as well as goods-related activities, such as selling goods online or renting out property." This definition of gig work includes both online and offline activities, underscoring the fact that most of these activities predate the internet.By this very wide definition, the Fed found that 3 in 10 adults engaged in at least one gig activity in the month before the 2018 survey. However, this number goes as high as 37% for people ages 18-29 and as low as 21% for people over 60. 18% of gig workers said that it was their primary income. * 10 Super Boring Stocks to Buy With Super Safe Returns The Fed also found that gig workers are more likely to be financially fragile. Of people who use gig work as their primary source of income, 58% are considered financially fragile. That is, they would have difficulty handling an unexpected $400 expense or are using alternative financial services. 44% of those using gig work to supplement their income were financially fragile.The Bureau of Labor Statistics, which puts out the jobs report that many use to measure the health of the U.S. economy has no formal definition of a gig worker or way of tracking them. This is because the BLS tracks primary work only. So people who work a number of different gigs or who need gig work to supplement their income are excluded. The closest it has is the Contingent Worker Supplement. Contingent workers are workers who do not expect their jobs to last longer than a year. The survey, last put out in May 2017, also identified workers with "alternative work arrangements."It found that:"In May 2017, there were 10.6 million independent contractors (6.9 percent of total employment), 2.6 million on-call workers (1.7 percent of total employment), 1.4 million temporary help agency workers (0.9 percent of total employment), and 933,000 workers provided by contract firms (0.6 percent of total employment)."It's unclear how these numbers have changed over time. Prior to 2017, the Contingent Worker Supplement had not been released since 2005. Good thing there was nothing that fundamentally disrupted U.S. employment between 2005 and 2017, right? But How Many Gig Workers Are There, Really?But in 2017, for the first time, the BLS asked 4 questions about "electronically-mediated employment," or "short jobs or tasks that workers find through mobile apps that both connect them with customers and arrange payment for the tasks."The survey found that there 1.6 million electronically mediated workers in the U.S., accounting for 1% of total employment. The BLS attempted to distinguish whether these jobs were a person's main job, second job or additional work for pay. Unfortunately, the BLS believes there were errors in interpretation of this question. As such, it does not recommend using this data.A study conducted by the Freelancers Union and Upwork concluded that 57 million Americans freelance, but only 6%-7% of those surveyed described themselves as "gig workers."So what is the gig economy?Well, no one has decided yet. And while some companies may spin that as new and exciting, it makes it hard to track these workers. It is even harder to see if they're being exploited. It's also much harder to know if gig work is a stable source of labor that will work going forward.In 2017, McKinsey estimated that 68 million workers were currently in the gig economy, and that 20 million were only doing it because they couldn't find better pay or a better job elsewhere.But it's fine, right? Unemployment has gone down since 2017 and wages have gone up. But remember, that's according to the BLS, the department that doesn't know how to define gig workers or determine how many people were doing electronically mediated work as a primary job.The truth is we don't know how large this group of workers is, or if they will be a reliable work force -- or customer -- for all of these gig-economy dependent companies going forward. The Face of the Gig EconomyFor an example of the sustainability of the gig economy, let's look at the face of it: Uber drivers. Since its IPO, Uber has hit a number of speed bumps. Two of these bumps are relevant to this discussion:* California Assembly Bill 5* ProfitabilityFirst is California Assembly Bill 5. This bill makes it harder for companies like Uber (and Lyft and others) to continue to classify their drivers as contractors instead of employees. This means drivers would need to earn minimum wage and receive benefits. Employers also have to pay taxes on employees that they don't need to pay for contractors.Both Uber and Lyft plan to fight this law, with Uber claiming that "drivers aren't core to its business." This argument obviously makes no sense. Being able to open Uber and request a ride doesn't exactly work if no one is ever going to come pick you up. That doesn't mean Uber can't win this legal battle, but it's unlikely that this is the last attempt to regulate the gig economy. Can Uber Turn a Profit?All this leads into the next question. How will Uber ever turn a profit?Last quarter, Uber took in gross bookings of $15.8 billion, but most of that money went directly to drivers, and Uber's revenues were only $3.2 billion. That's about 20%.Overall, the company lost $5.2 billion dollars in the second quarter. The company needs to be keeping more of its gross bookings, but the California bill, and the ones sure to follow, will mandate it keeps less. Uber is not profitable with it's workers classified as contractors, so how would it be profitable otherwise?Uber is trying to branch out with the recent release of Uber Works, an app dedicated to matching temporary workers with shifts. It has partnered with staffing agencies to do this, and the temps would be employees of the staffing agency -- not Uber. This is a transparent attempt to sidestep the issues brought up in AB 5.This move also attempts to frame Uber as the technology "that connects people to work opportunities, rather than carrying the burden of being an employer."Will this work? That's unclear. But it's unlikely to work well enough to make up for a $5-billion-a-quarter loss while the company also sidesteps further legislation.But the other huge risk for the gig economy is not profitability, it's that workers are unlikely to stay in it for longer than they can help it. The Cost of Being a Gig WorkerNow that we've talked about how the gig economy might not continue to work for companies, let's look at how it's already failing employees.Back in 2014, Uber stated in a blog post that the median annual income for an UberX driver in New York City is $90,766. In response, Slate writer Alison Griswold attempted to find one person making that much money as an Uber driver. She couldn't. (Note: I have not been able to locate the original blog post, but other contemporaneous reporting verifies Uber made the same claim).If $90,000 is the median, that means Uber claimed 50% of its drivers in New York City made more than $90,000 a year.A salary of $90,766 works out to about $43.63 an hour if a driver is working 40 hours a week. In an also deleted tweet, Uber claimed around the same time New York City drivers made about $25 an hour after taxes and fees.A driver would have to commit to a 70-hour week to hit the yearly median that Uber originally published. Minimum WageOne driver interviewed for the Slate article made about $12 an hour after paying for gas, car cleanings, insurance, parking and maintenance costs. For someone employed by a company as a driver, all of these expenses would be covered.The minimum wage for employers with more than 11 employees in New York City is currently $15 an hour.A survey conducted by Ridester showed that in 2018, New York City Uber drivers were making about $20.92 an hour before expenses. But the person interviewed for the Slate article was making $21 an hour before fees brought it down to $12. That was five years ago. Costs have only increased since then. In the Ridester's worst-rated city -- Akron, Ohio -- drivers are only averaging $4.94 an hour before expenses.Yes, expenses are lower in Akron than New York, but $4.94 is well below federal minimum wag. Can these drivers break even?Low pay isn't just a problem for those who receive it. Many currently believe the world economy is currently being held up by the American consumer, but what happens if the American consumer has less and less to spend?How can Lyft and Uber rely on having a consistent workforce when the pay is so abysmal? Many workers will leave as soon as they find something better. And if drivers aren't breaking even, they're not going to even bother waiting for something better. They're just going to jump ship. The Human Cost of the Gig EconomyBut low pay isn't the only cost of being a gig worker.Gig workers are far less likely to have health insurance. While about 85% of Americans have some form of health insurance, only 67% of temporary workers and 75% of independent contractors do. And when people are uninsured, it hurts the economy and raises prices for people with insurance.Most people access retirement plans through their employers. This means gig economy workers have bleak prospects when it comes to saving for the future. And when people can't take care of themselves in retirement, that weighs on the overall economy as well.But for some gig economy workers, especially drivers, health insurance and retirement plans are the furthest thing from their mind. They're focused on keeping a roof on their head or, in some cases, just surviving.Bhairavi Desai, the executive director of the New York Taxi Workers Alliance, (which also represents Uber and Lyft drivers) told Fast Company: "We're talking about massive bankruptcies, foreclosures, evictions. We've had Uber and Lyft members … end up in homeless shelters for six months at a time, to drivers talking about food scarcity, to people living in their cars and sleeping at the airports overnight. We saw such high levels of depression and despair, and eventually we started to see the suicides."Since 2018, nine ride-hailing and cab drivers have taken their own lives in New York alone. All communications from the Taxi Workers' unions to its members now include the suicide hotline. The Bottom Line on the Gig EconomyAccording to Edison Research, 45% of gig workers say they feel stuck in their current financial situation. They report higher levels of financial instability than their traditionally employed counterparts.African-American and Hispanic workers are more likely to be relying on the gig economy for their primary income.The gig economy isn't profitable for companies. But moreover, the harm that it does to its workers is incalculable -- literally, since the government can't seem to count these workers.And it's giving us an incomplete picture of the economy.158 million people were employed as of the September jobs report. Almost 6 million were unemployed (and looking for work) making for a very low rate of 3.5%. Just over 1 million workers were part-time because could only find part-time work but wanted full-time work. On their own, those are great numbers.But what about the 20 million people mentioned earlier? The ones who were in the gig economy only because they had to be? That group is almost four times as large as the total unemployed. It is 20 times larger than the jobs report underemployed number. And the BLS is not consistently tracking them. So they won't be in the jobs report, and we won't know how well the economy is really doing.But the real losers are the workers, who are being exploited by promises of being their own boss and setting their own hours.As of this writing, Regina Borsellino held no positions in the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Super Boring Stocks to Buy With Super Safe Returns * 10 Winning Stocks to Buy and Stick With for the Long Haul * Don't Give Up on These 4 Cannabis Stocks The post Why the Gig Economy Doesn't Work appeared first on InvestorPlace.
- Barrons.com
Big IPOs Have Been a Bust. They Might Be in Your Index Fund.
Passive funds are buying the most expensive stocks in the market, regardless of valuation, says Kailash Concepts. High-profile IPOs have gone on to double-digit losses, sinking the indexes and the funds that track them.
- CorpGov.com
Cambridge Capital’s Gordon: After WeWork Debacle, Tech Firms to Take Governance Seriously
Cambridge Capital CEO Benjamin Gordon By Oliver Estreich The doomed IPO of WeWork parent We Co. is likely to pressure technology companies to embrace more robust corporate governance and discourage features such as tiered voting shares that fueled investor ire. That’s according to Benjamin Gordon, CEO of Cambridge Capital, who spoke to CorpGov on […]
- Zacks
What's Next For 2019's IPO Class?
The IPOs of 2019 like Uber (UBER), Lyft (LYFT), and Levi Strauss (LEVI) may not be out of the woods yet.
- MarketWatch
WeWork is a symptom of a disease that may not have a cure
The spectacular blow-up of the public offering of WeWork’s parent company We Co. shows that the public markets are savvier than private investors about buying into the hype of high-value, high-risk unicorn companies masquerading as tech companies. But will anything change in the new world where companies wait as long as possible to go public?
- Market Realist
Zoom Video and CRWD Lead Tech IPO Gains in 2019
Zoom Video is trading significantly higher than 2019's other IPO debutants. Zoom stock had an offer price of $36 and is trading at $73.52—104% higher.
- Yahoo Finance Video
Adena Friedman, Nasdaq CEO on the IPO market today: Success will be determined over time
In a conversation with Yahoo Finance, Adena Friedman, Nasdaq CEO, discusses the state of the U.S. IPO market, including whether or not we're at a top. "Every IPO has its own story."
