|Bid||64.16 x 800|
|Ask||64.24 x 800|
|Day's Range||64.00 - 65.05|
|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||70.52|
Stock markets already are oriented toward long-term growth — see Amazon, Lyft and Uber. And a system of “long-term voting rights” is bad for investors, says this former SEC chief economist.
Lyft Inc. is partnering with Disney resorts on both the East and West Coast as an official ride-share partner of the theme park giant. The San Fransisco-based ride-hailing app (Nasdaq: LYFT) along with Disney (NYSE: DIS) announced the partnership will begin on June 18 at both its Orlando and Anaheim, California, resorts. The partnership comes as the company first worked with Disney on its "Minnie Van" service in 2017, which provides private on-demand van service throughout Walt Disney World Resort.
Slack Technologies Inc. is looking for a better direct-listing fate than Spotify Technology SA. The music-streaming service reminded tech unicorns late last year that companies don’t have to issue new shares or raise money through a traditional offering if they wish to go public, and now Slack is following in its footsteps. The business-chat company has filed direct-listing paperwork.
The move comes two years after the launch of Minnie Vans at Walt Disney World, which have now served more than a million users at the resort.
Investors have been excited for a while now about the potential for a Palantir market debut, even though the company has yet to lay out any specific plans for an initial public offering.
NEW YORK, NY / ACCESSWIRE / June 18, 2019 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders ...
Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, announced today that that approximately one month remains to make a motion for lead plaintiff in a securities class action lawsuit against Lyft Inc. (“Lyft” or the “Company) (LYFT) alleging claims on behalf of those who purchased or acquired Lyft shares pursuant to or traceable to Lyft’s initial public offering (“IPO”) on or around March 29, 2019. If you purchased Lyft securities, and/or would like to discuss your legal rights and options, please visit Lyft Class Action Lawsuit or contact Matthew Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com. If you wish to serve as lead plaintiff, you must move the Court no later than July 16, 2019.
NEW YORK, NY / ACCESSWIRE / June 18, 2019 / The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. If you suffered a loss you have ...
The service will provide consumers, whose vehicles require a tow, a complimentary Lyft ride from their breakdown site to their destination, the company said in a statement. Lyft had 30.7 million riders and 1.9 million drivers in more than 300 cities in the U.S. and Canada last year.
(Bloomberg) -- Facebook Inc. made a renewed push into payments on Tuesday, announcing plans for a cryptocurrency called Libra.Read More: Facebook Wants Its Cryptocurrency to One Day Rival the GreenbackIt will be governed by the Libra Association, a group of companies that will have an equal say in how the cryptocurrency is managed. Almost 30 firms have joined and Facebook hopes another 70 or more will enter the fold in the future.Read Facebook’s Project Libra white paper hereWho’s In:Visa Inc. and Mastercard Inc., the world’s largest payments networks, as well as PayPal Holdings Inc. are on board. For Visa and Mastercard, it’s a chance to offer the world of cryptocurrencies the same services they provide in card payments. All three companies know the challenges of building a network and can offer expertise in encouraging consumers to use the instrument and cajoling merchants into accepting it.Companies such as Uber Technologies Inc., Lyft Inc., and Spotify Technology SA keep millions of credit cards on file, and they risk losing customers when people get a new card or number. E-commerce firms also pay higher “card not present” rates when processing payments, so anything that can reduce these expenses is welcome.“Libra has the potential to bridge the gap between traditional financial networks and new digital currency technology, while reducing the costs for everyone,” said Peter Hazlehurst, head of payments at Uber.International companies, including e-commerce firm MercadoLibre Inc. and telecom giant Vodafone Group Plc, signed onto Libra, too. Blockchain technology and stablecoins are potential solutions for the messy world of cross-border payments, which suffers from delays and high costs.Who’s Out:Large banks, including JPMorgan Chase & Co., Bank of America Corp. and Citigroup Inc., already have their own payments businesses that reap billions of dollars in fees. With regulators still deciding how to treat cryptocurrencies, banks and investment firms are treading cautiously.So far, no large brick-and-mortar retailers, such as Target Corp. and Walmart Inc., are taking part. The industry is always interested in lowering the cost of accepting payments, but traditional merchants have historically been hesitant to accept cryptocurrencies due to volatility and lack of consumer adoption.The largest U.S. technology companies, Microsoft Corp., Apple Inc., Alphabet Inc.’s Google and Amazon.com Inc., are noticeably absent. Many of these firms have their own digital payments businesses and some are experimenting with blockchain technology. Apple has poured scorn on Facebook for repeated privacy missteps and other big tech firms are trying to avoid being associated with the social-media giant.“This is very early -- 27 organizations right now, 100 by the time we launch,” David Marcus, head of the Facebook blockchain team that’s spearheading the project, said in a Bloomberg Television interview. “And by that time, I definitely expect to see banks in there, I definitely expect to see other large technology companies and I definitely expect to see more diversity of organizations in terms of geographical distribution.”Square Inc. Chief Executive Officer Jack Dorsey is a cryptocurrency fan, but even his firm isn’t part of Libra at launch. Square’s cryptocurrency team made its first hire last week and it’s Cash App is a popular way for consumers to buy and sell Bitcoin.Here’s the full list of founding members and partners:Andreessen Horowitz Anchorage Bison Trails Booking Holdings Inc.Breakthrough Initiatives Facebook’s CalibraCoinbase Inc.EBay Inc. Farfetch Ltd.Iliad SA’s Free Lyft Inc.Mastercard MercadoLibre Inc.’s Mercado Pago PayPal Naspers Ltd.’s PayURibbit Capital Spotify Technology SAStripe Inc.Thrive Capital Union Square Ventures Uber Visa Vodafone Group Xapo Creative Destruction Lab Kiva Mercy Corps Women’s World Banking (Updates with comment from Facebook’s David Marcus in 10th paragraph. A previous version of this story corrected Creative Destruction’s name.)To contact the reporters on this story: Jenny Surane in New York at email@example.com;Julie Verhage in New York at firstname.lastname@example.org;Kurt Wagner in San Francisco at email@example.comTo contact the editors responsible for this story: Jillian Ward at firstname.lastname@example.org, Alistair Barr, Andrew PollackFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares 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. If you wish to serve as lead plaintiff, you must move the Court no later than July 16, 2019.
NEW YORK , June 17, 2019 /CNW/ -- Pomerantz LLP announces that a class action lawsuit has been filed against Lyft, Inc. ("Lyft" or the "Company") (NASDAQ: LYFT) and certain of its officers. The class action, filed in United States District Court, for the Northern District of California , and indexed under 19-cv-03003, is on behalf of a class consisting of all persons and entities who purchased or otherwise acquired Lyft common stock pursuant or traceable to the Form S-1 Registration Statement and Prospectus (collectively, the "Registration Statement") issued in connection with Lyft's March 2019 initial public stock offering (the "IPO" or "Offering"). This action asserts non-fraud strict liability claims under Sections 11 and 15 of the Securities Act of 1933 ("Securities Act") against Lyft and certain Lyft's officers and directors (collectively, the "Defendants").
As California considers a gig-work bill to make ride-hailing drivers employees eligible for benefits and bargaining rights, Uber and Lyft ask for compromise.
Uber (NYSE:UBER) shares dropped another 3.3% over the past week, after the company announced some surprising management changes. On June 7, Uber announced COO Barney Harford and CMO Rebecca Messina are leaving the company.Source: Shutterstock For a company with a huge amount of near-term uncertainty, this latest Uber news was frustrating for investors on many fronts. The timing of the announcement is suspicious at best and yet another reason investors should think twice about buying Uber stock. Suspicious TimingIt's probably very difficult for Uber stock investors not to be cynical about the timing of these management departures. The Uber IPO happened just one month ago. The company and the executives involved would likely never admit it, but there's no way these departures came completely out of the blue within the past month.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Top-Rated Biotech Stocks to Invest In Today Uber and/or the executives leaving knew what they were doing. Announcing a management shuffle right before an IPO creates uncertainty in the market. It might weigh on IPO demand and valuation. Announcing the departures right after the Uber IPO creates too much suspicion that the company was withholding the announcement. Announcing the departures one month after the IPO creates enough plausible deniability that the company/executives won't get too much heat.I don't know if Uber or the executives leaving are to blame. Either way, this announcement was carefully timed. There's nothing deceptive or fraudulent about the timing of executive departures; however, this was a Public Relations 101 move to make the announcement after the dust settled on the Uber IPO.You don't have to take my word for it."While the timing of these executives departures so soon after the IPO will raise some eyebrows for investors and add more pressure on [Uber CEO Dara Khosrowshahi and company] in the near-term we believe this move is better to happen sooner rather than later," Wedbush analyst Daniel Ives says."This news comes as a shock to the Street and clearly one of the last things investors wanted to see with the stock currently coming under pressure." Uber Stock IPO a FlopEver since the overhyped Lyft (NASDAQ:LYFT) IPO in March, I have been pounding the table for investors to stay away from these big-tech IPOs.Former Kase Capital hedge fund manager Whitney Tilson recently summed up his thoughts on these IPOs very bluntly. Tilson said he has never participated in a tech IPO and doesn't plan to any time soon. In fact, Tilson went as far as to say the U.S. market is currently in an IPO bubble."Mathematically speaking, they've done studies and it's the single worst place to invest," Tilson said. "There is no surer way to lose money in any strategy than buying hot IPOs."Tilson's comments echo the sentiment of one of his biggest influences, value investing guru Warren Buffett.The general idea with these tech IPOs is that they tend to happen when company insiders believe the market value is highest. Value investors know when a stock is at its highest point, it's time to sell, not buy. IPO investors are buying many of these stocks at the absolute worst time. Not only is the valuation at a relative high point, IPO underwriters and the financial media hype these stocks so hard that the market gets whipped into a frenzy.As a result, more than a month later, Uber stock IPO investors are underwater on their investment. Where to Go From HereThe timing of the executive departures is yet another example of how IPO investors often get played as suckers. The question for investors at this point is what to do now.Management turnover is just one of many unanswered questions for Uber stock investors. Uber seems to be reshaping its corporate structure. The company's losses have mounted as its business has grown. Growth is slowing.According to Reuters, eight out of the 10 largest tech IPOs of all time generated a negative overall return of between -25% and -71% in their first year of trading following their IPOs.As I have said before, long-term Uber stock bulls that believe in the company have a valid thesis. Uber may very well end up being the Amazon (NASDAQ:AMZN) or Netflix (NASDAQ:NFLX) of transportation. However, both Amazon and Netflix have experienced decades of strong stock market returns, nit just one year. * 10 High-Yield Monthly Dividend Stocks to Buy Uber stock investors should consider letting the dust settle for a year before they buy the stock. In a worst-case scenario, Uber gets its act together and investors have to pay a higher price a year from now. They would also be potentially be making a much safer investment than they would be today.As of this writing, Wayne Duggan did not hold a position in any of the aforementioned securities. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * The 7 Best Tech Stocks to Buy for the Second Half of 2019 * 7 Top-Rated Biotech Stocks to Invest In Today * 4 Semiconductor Stocks to Sell Compare Brokers The post Management Turnover Adds Even More Uncertainty for Uber Stock appeared first on InvestorPlace.
NEW YORK, NY / ACCESSWIRE / June 17, 2019 / The Law Offices of Vincent Wong announce that class actions have commenced on behalf of shareholders of the following companies. If you suffered a loss you have ...
Uber is rolling out a new feature within its app that integrates local public transit information for ride-hailing customers who may also want to take the MBTA.
A rise in securities class-action cases involving initial public offerings is spurring IPO insurers to double and triple prices for directors and officers coverage, or "D&O" coverage, insurers and brokers told Reuters. A $5 million policy that cost $200,000 in 2016 can now easily cost $500,000 to $600,000, said Paul Schiavone, head of North American Financial Lines for Allianz Global Corporate & Specialty, an Allianz SE unit.
Companies going public in the United States face insurance costs that have increased as much as 200% in the last three years to cover their executives against lawsuits alleging they misled investors. A rise in securities class-action cases involving initial public offerings is spurring IPO insurers to double and triple prices for directors and officers coverage, or "D&O" coverage, insurers and brokers told Reuters. A $5 million policy that cost $200,000 in 2016 can now easily cost $500,000 to $600,000, said Paul Schiavone, head of North American Financial Lines for Allianz Global Corporate & Specialty, an Allianz SE unit.
Trendy new IPOs always rock the boat, for a variety of reasons. A hyped-up IPO like Beyond Meat or Uber is likely to show sudden jumps or dips in share price because it simply hasn't been trading long ...
This is the year of the IPO, but what if you can invest before a company's public debut? Yahoo Finance's Zack Guzman & Heidi Chung, along with Women’s Wear Daily Business Reporter Kaley Roshitsh discuss with Netcapital Founder & CEO Jason Frishman.