42.95 -0.09 (-0.21%)
After hours: 5:44PM EST
|Bid||43.01 x 1000|
|Ask||43.14 x 3100|
|Day's Range||41.75 - 43.93|
|52 Week Range||37.07 - 88.60|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 30, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||67.12|
It's been about two weeks since Los Angeles International Airport expanded its ride-share lot and banned curb-side pickup for ride-hailing passengers. Travelers were initially outraged due to long wait times but has congestion eased up as promised? Yahoo Finance's Melody Hahm is at LAX with an update on the new setup.
Travelers are finding it difficult to use LAX’s shuttle service, providing transportation to a remote pickup location for taxis and ridesharing companies. Yahoo Finance’s Julie Hyman, Brian Cheung, Pras Subramanian and Melody Hahm break down the latest developments on On The Move.
Travelers passing through LAX have routinely expressed outrage over long wait times for ride-hailing services. The airport recently expanded its ride-share lot, a move viewed as somewhat controversial. Yahoo Finance’s Melody Hahm joins Dan Roberts on YFi AM to discuss.
The rise of private investment is a “terrible problem” for everyday investors cut out of companies’ strongest returns, says top venture capitalist Ben Horowitz.
The latest round of 13F filings from institutional investors is out, revealing to the world the stocks that some of the richest and most successful investors have been buying and selling. Takeaways From ...
SAN FRANCISCO, Nov. 15, 2019 -- Lyft, Inc. (Nasdaq:LYFT) announced today that John Zimmer, Co-Founder and President, will participate in a fireside chat at the RBC Capital.
(Bloomberg Opinion) -- Your mother probably told you never to get in a car with a stranger. The multibillion-dollar global ride-hailing industry depends on your ignoring her. If they want to earn that trust, though, companies need to rethink the tradeoff they’ve long made between safety and cost.Around the world, passengers are now hailing more than 10.5 billion rides a year. Not surprisingly, some have ended in tragedy. Uber Technologies Inc. came under fire in India after a 26-year-old woman was raped by one of its drivers in 2014, and local rival Ola has faced a similar backlash. In the U.S., Lyft Inc. has been sued by multiple women who say drivers sexually assaulted them.Last year, within the span of three months, two female passengers were murdered by drivers of China’s ride-sharing company, Didi Chuxing Inc. Didi’s Hitch carpooling service once was marketed almost as a cross between Uber and Tinder: a taxi service that let drivers and passengers rate each other by appearance. Didi halted Hitch in August 2018 after an outpouring of anger from state media, regulators and China’s version of deleteuber.Last week, Didi announced plans to restart Hitch on a trial basis in seven Chinese cities by the end of the month. The decision follows a “comprehensive safety review and product revamp,” as well as the introduction of a new women’s safety program that includes better “risk analysis” and an updated in-app security assistant. Didi plans to spend 2 billion yuan ($285.5 million) on safety measures this year, including more frequent use of facial-recognition technology — to ensure drivers are who they say they are — and a deeper review of abnormal driving patterns, as well as more regular safety tests for drivers.But the key to the Hitch relaunch were new restrictions on the program. The service was to be limited to trips under 50 kilometers (31 miles) and women would only have been able to ride between 5 a.m. and 8 p.m. By contrast, men could keep riding until 11 p.m. After an online backlash, the company revised the service to run only until 8 p.m. for both men and women.While the company’s intentions were good, more obviously needs to be done. A sophisticated analysis of high-risk scenarios won’t help you if you’re stuck in the backseat within an inch of your life. And to assume that a woman will only be raped and murdered between the hours of 8 p.m. and 5 a.m. more than 30 miles from her pickup point is clearly a bit naïve.What the ride-hailing industry in China and elsewhere really needs to do is reexamine who’s allowed to drive in the first place. It’s hard to say whether the measures Didi is now implementing would have screened out Zhong Yuan, the 28-year-old Hitch driver who was executed in August for murdering his 20-year-old passenger. After passing background checks and providing documentation, you can still become a Didi driver in 10 days or less.Instead, companies should be raising the barriers to entry so they’re hiring fewer, better drivers. And if they won’t, governments should step in. In Malaysia, regulators now require aspiring drivers to pass written exams and health checks, and to register for specific permits. Roughly a third of applicants have failed the exam thus far, Transport Minister Anthony Loke said last month, and more than 20% of Grab drivers have reportedly quit to avoid complying with the stricter regulations.Singapore imposed new rules earlier this year to bring ride-hailing companies closer in line with taxi operators. The regulations were proposed less than a week after my Bloomberg News colleague Yoolim Lee wrote about a Grab accident that left her with a broken neck and at risk of stroke. She estimated that, around the time of the incident, nearly half of private-hire drivers in the city didn't have the proper license and shouldn't have been driving. While fewer drivers doesn’t necessarily mean safer drivers, a steeper commitment at least means they have a lot more at stake to protect their livelihoods.The genius of the gig economy is the ability to make money from underutilized, ubiquitous skills. Yet the model may have been taken too far. Just because you can make an omelet doesn’t mean you should run a diner. So why should you drive professionally just because you have a license?Shrinking the supply of drivers will obviously make rides more expensive. But it’s worth judging the prospect of higher prices against the long cycle of the internet economy. The Web has made everything from academic research to air travel cheaper and easier to access. At the same time, quality goods and services can’t be free forever: We’ve seen this in the news business, where websites that once offered unfettered access to their journalism (including Bloomberg.com) have implemented paywalls. If fewer drivers means safer rides, that’s a price most people should be willing to pay. (Corrects fifth and sixth paragraphs to show Didi revised its initial policy. )To contact the author of this story: Rachel Rosenthal at email@example.comTo contact the editor responsible for this story: Nisid Hajari at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Rachel Rosenthal is an editor with Bloomberg Opinion. Previously, she was a markets reporter and editor at the Wall Street Journal in Hong Kong. For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
CHICAGO/NEW YORK, Nov 13 (Reuters) - Chicago's mayor on Wednesday rejected an alternative proposal by Uber Technologies Inc and Lyft Inc to tax ride-hailing services, accusing Uber of trying to resist any type of regulation by stirring up racial tensions. Mayor Lori Lightfoot last month proposed raising $40 million from a traffic congestion tax on certain ride-hailing trips, a move Uber and Lyft said would largely hurt low-income residents in Chicago's predominantly black neighborhoods. This latest battle comes as more U.S. cities pursue taxes to combat what they describe as increasingly clogged streets due to ride-sharing vehicles.
FT subscribers can click here to receive Moral Money every Wednesday by email. Welcome to Moral Money. This week we have: A brewing fight among ESG standard-setters $10bn worth of impact — from coffee ...
The California Trucking Association on Tuesday filed what appears to be the first lawsuit challenging a sweeping new labor law that seeks to give wage and benefit protections to workers in the so-called gig economy, including rideshare drivers at companies such as Uber and Lyft.
SmileDirectClub did all it could in the third quarter to get investors excited post IPO. Yahoo Finance speaks with SmileDirectClub CFO Kyle Wailes.
Khosrowshahi may want to consider keeping his mouth shut right now, says one veteran Wall Street that covers Uber tells Yahoo Finance.
The venture capital firm that backed Facebook, Inc. (NASDAQ: FB) and Lyft Inc (NASDAQ: LYFT) is making its first investment in an autonomous trucking startup that was born of artificial intelligence research from the Massachusetts Institute of Technology. Founders Fund is leading a $15 million investment in iSee. The fund, whose general partners include Paypal Holdings Inc (NASDAQ: PYPL) co-founder Peter Thiel, has also invested in Flexport and PostMates.
The Lyft vehicle repair specialists work to fix a vehicle as fast as possible with multiple technicians working in tandem like a racing car pit crew. Lyft also promises no upselling and affordable car repairs for its drivers.
The latest Tesla earnings release has driven it into one of the strongest and fastest rallies in the stock's history, and it doesn't seem to be slowing. TLSA could be well on its way to surpassing its all-time high.
Most people are comfortable with skimping on tipping their Uber driver. That’s the conclusion of a working paper released this week, co-authored by University of Chicago economist John List and published by the Becker Friedman Institute for Economics at the University of Chicago.
It was a challenging year for Minneapolis’ bikeshare program, which saw record numbers of bikes go missing while ridership and revenue took a dive.
Travelers passing through Los Angeles International Airport, the second busiest airport in the United States, have routinely expressed outrage over long wait times for ride-hailing services like Lyft and Uber. It appears things are finally improving.
Even the best-performing new stock companies from the region have been hit by a reset that appears to be happening on Wall Street.
When the markets are hitting new highs, there is usually lots of enthusiasm for IPO stocks. Just look at what happened during the 1990s, when it was routine for public offerings to double or even triple on their debuts.But as for now, Wall Street is fairly cautious on initial public offerings. This is especially the case with tech startups. Some of the notable deals that have fizzled include Uber (NYSE:UBER) and Lyft (NASDAQ:LYFT).However, what appears to have been the biggest jolt to IPOs is the stunning implosion of SoftBank (OTCMKTS:SFTBY). The company had to pull its offering because it was running out of cash. Because of this, WeWork had little choice but to accept a dilutive financing from its biggest investor, SoftBank.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Medical Marijuana Stocks to Cure Your Portfolio This begs the question: What are the other tech companies that should not be public? Well, let's take a look at seven potential new stocks that should not be: Potential New Stocks That Shouldn't Go Public: Didi ChuxingAfter a long stint at Alibaba (NYSE:BABA), Cheng Wei went on to found Didi Chuxing Technology -- a ride-sharing app operator -- in 2012. He had little trouble getting interest in his startup as Tencent quickly agreed to invest $15 million.Since then, Didi Chuxing has continued to grow at a rapid pace, becoming the dominant player in the Chinese market (the current valuation is over $60 billion).But while an IPO is likely on the roadmap, it probably won't be in the near future. After all, the company remains unprofitable and there are also the concerns about the high levels of competition in the Chinese market. And of course, the sentiment for ride-sharing IPOs is fairly awful right now. Note that Lyft and Uber are off about 40% from their offering prices. Juul LabsClose to a year ago, Altria Group (NYSE:MO) agreed to make the biggest investment in it's history -- that is, a $12.8 billion equity stake in Juul Labs, the leading e-vapor operator in the U.S. The deal came to a valuation of $35 billion. At the time, Altria CEO Howard Willard noted:"This is a unique and compelling opportunity to invest in an extraordinary company, the fastest growing in the U.S. e-vapor category. We are excited to support Juul's highly-talented team and offer our best-in- class services to build on their tremendous success."Well, as of now, he is probably regretting his decision.Recently Altria announced a mega write down of its investment: $4.5 billion. No doubt, a big part of this has been due to the adverse impact from the deaths and illnesses that have been alleged from vaping. The company has also seen the resignation of the CEO in September. * 10 Companies Whose CEOs Care About All Stakeholders The investigations are still in the early stages and Juul may ultimately have no responsibility. But in the meantime, it seems like a good bet we'll not see an IPO from this company for quite some time. Fair.comEven though Fair.com was founded only about three years ago, the company has been able to raise a whopping $2.1 billion. It certainly helps that there is a marque founding team: Scott Painter, who created TrueCar (NASDAQ:TRUE) as well as Fedor Artiles and George Bauer, who have held executives positions at Mercedes and Tesla (NASDAQ:TSLA).Fair.com is pioneering a new market, which it calls CaaS (or cars-as-a-service). With the company's app, you can select from more than 40 makes and models of cars and rent one of them by the week. You also get benefits like a limited warranty, roadside assistance and routine maintenance.It's a very interesting concept. However, Fair.com has been running into some challenges, which could make it tough for an IPO.For example, Painter has recently resigned as CEO, which came on the heels of layoffs that represent about 40% of the workforce. Softbank, which has invested $385 million in Fair.com, appears to be focused on initiating a wide-scale restructuring of the operation. Vice MediaVice Media is a next-generation digital broadcasting company, with a focus on younger demographics. While the content is high quality and engaging -- winning prestigious awards such as the Emmy -- the business has been rocky.Consider that during the summer HBO cancelled a Vice Media news program as well as ended a long-running partnership. Oh, and earlier in the year, the company initiated a layoff for about 15% of the workforce. This was part of the priority to get to profitability.But there is a silver lining: the CEO, Nancy Dubuc, is a savvy media veteran. Prior to joining Vice Media, she was at the helm of A+E Networks.And she has already made some bold moves, such as to acquire Refinery29, which is a digital media company focused on the female demographic. * 7 Semiconductor Stocks to Buy for Your Inner Geek Despite all this, there is still much work to be done. Thus, if there is an IPO, it will not be any time soon. Vice isn't the only company that's built its business on the back of counterculture, however, a fact legendary pot investor Matt McCall uses to the advantage of his subscribers.As marijuana legalization cascades around North America and the rest of the world, Matt has taken to plotting major "tidalwave" events in cannabis IPOs. Some of which are coming public at mere pennies per share -- and if you buy the right ones, you can turn a tiny bit of money into a massive windfall, literally overnight. Yes, there's a lot of risk involved but the juice is worth the squeeze. PalantirPalantir Technologies is a secretive organization that helps customers with cutting-edge analytics. For example, it focuses on areas like counter-terrorism, sophisticated frauds and cyber attacks. Keep in mind that Palantir's systems helped with the locating of Osama bin Laden,All this has turned into a solid business. In 2018, revenues jumped from $600 million to $880 million.Yet an IPO is proving to be extremely complicated. If anything, the need for secrecy is one of the major problems. After all, a public company is required to make onerous disclosures.Instead, it looks like Palantir will continue to tap private markets for funding. Although according to Business Insider, the company may still try for an IPO in 2023. PostmatesPostmates, a top player in the online delivery market, filed for its IPO earlier in the year. But unfortunately, the company may have to wait awhile. Last month, Postmates CEO said that the deal would be delayed because of adverse market conditions (the company has recently raised $225 million).Actually, the environment is downright awful! Recently GrubHub (NYSE:GRUB) reported grim quarterly results, which tanked the stock price by 43%.The reality is that the market is undergoing rapid commoditization. Does it really matter who delivers your food? Not really. * 7 Stocks to Buy That Save You Money As a result, companies like Postmates and GrubHub have been engaged in a brutal fight to gain customers, such as with steep discounts. In the meantime, there are other pressures, such as rising labor costs, more regulation and aggressive negotiation from restaurants. ZooxZoox does not lack for ambition. According to the company's website: "We are applying the latest in automotive, robotics and renewable energy to design a symmetrical, bidirectional, zero-emissions vehicle from the ground up to solve the unique challenges of autonomous mobility."However, Zoox has been the source of lots of drama. Back in 2018, the company terminated its co-founder and CEO.But the real issue with Zoox is that building self-driving cars has many huge challenges. Interestingly enough, it will mean a rethinking of consumer habits. A Zoox car will not have a steering wheel and will have passenger seats that face each other.Yet the biggest challenge is making the technology workable for busy highways. Even some of the largest tech companies are struggling with this, such as Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) and Apple (NASDAQ:AAPL).Keep in mind that legendary tech entrepreneur, Steve Wozniak, has recently said he'll not see truly autonomous cars in his "lifetime."Self-driving cars aside, there are major things happening in marijuana right now that should have you plenty excited. If you think you've missed out on the biggest gains to be had, you're wrong. Matt McCall points to three landmark events right around the corner, happening on Dec. 4, Jan. 23 and Feb. 19.Ordinary Americans such as yourself can outsmart the entrenched institutional investors, simply by knowing when and how to invest in cannibis IPOs. Matt's Cannabis Cash Calendar lays bare his method, which has seen successes such as a 316% annualized gain in Cronos (NASDAQ:CRON) in less than two weeks.Critically, there are hundreds of undiscovered stocks primed for investors like you and me. You just have to know how to find them.Tom Taulli is the author of the book, Artificial Intelligence Basics: A Non-Technical Introduction. Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Stocks to Sell Before They Roll Over * 5 Beaten-Up Stocks to Buy That Could Be Saved By An Acquisition * 4 Startup Stocks Getting Smashed The post 7 Potential New Stocks That Should Not Go Public appeared first on InvestorPlace.
Uber and Lyft, as the two leading providers of ride-hailing services, have reported net losses well into the billions but recently said they would reach profitability sometime in 2021.