|Bid||136.10 x 800|
|Ask||141.20 x 800|
|Day's Range||137.78 - 138.81|
|52 Week Range||102.26 - 147.75|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||1.34|
|Expense Ratio (net)||0.60%|
Shares of ridesharing company Lyft hit fresh lows on Wednesday, falling as much as 6 percent as skepticism regarding its valuation continues to put downward pressure on its stock price. After debuting with an opening price of $72, Lyft continues to struggle with analyst downgrades early on in its publicly-traded existence. Lyft was already in a tenuous position prior to its IPO debut--according to S&P Global Market Intelligence, Lyft posted a loss of $911 million in 2018, making it the most any U.S. startup has lost in the 12 months leading up to its IPO. Lyft did post a record $2.16 billion in revenue, but according to Ilya Strebulaev, a Stanford University business professor who studies late-stage startups, that doesn’t necessarily translate to success once going public.
Probably taking cues from the Lyft IPO debacle, Pinterest has toned down its IPO pricing. This might help the company maintain its IPO price once public, benefitting these ETFs.
After debuting last week with an opening price of $72, Lyft continues to struggle with a 3 percent drop on Tuesday with analyst downgrades putting pressure on the ridesharing company early on in its publicly-traded existence. Michael Ward, an analyst at Seaport Global Securities, issued Lyft a sell rating and a 12-month price target of just $42 a share--a drop of over 40 percent from its opening price. Ward cites the company's valuation as a cause for skepticism.
In only its second day of trading, the Lyft IPO fell 10 percent, falling below its initial $72 per share offering while the Renaissance IPO ETF (IPO) gained 1.20 percent--a prime example for choosing ETFs over individual stocks in a hit-or-miss IPO sector. IPO is up over 31 percent year-to-date. Its top holdings speak to the diversity of its portfolio, which includes Elanco Animal Health, VICI Properties, Spotify Technology, and Okta--all from various sectors.
The Renaissance IPO ETF (IPO) is up 30.37 percent year-to-date, which might mean that initial public offerings (IPOs) are in a good place, but the record for startups hitting Wall Street show that most typically sputter. The company is expected to make its IPO available this week and in the long-term, hopefully buck a trend that doesn't favor IPOs. According to S&P Global Market Intelligence, Lyft posted a loss of $911 million in 2018, making it the most any U.S. startup has lost in the 12 months leading up to its IPO.
Internet software stocks are well poised to benefit from rapid adoption of the SaaS delivery model. Here we pick six Internet software stocks with promising fundamentals.
Internet stocks and ETFs have had a stellar run in the 10-year old bull market. Will these maintain the winning momentum?
eBay is cashing in on its structured data and artificial intelligence strength while PayPal is focusing on inorganic growth via several partnerships. Are ETFs better options to play the stocks?
As Facebook cheered Wall Street with robust fourth-quarter 2018 results, ETFs with higher allocation to this firm are poised to surge.
The beaten down price of Netflix could be a solid entry point for investors given its dominance in streaming service. We have highlighted five ETFs with a higher allocation to this firm.
The Nasdaq Composite rose 1.7 percent on Tuesday as shares of Netflix soared 6.5 percent after it announced it would raise its prices for streaming services. The rally in tech fueled the Direxion Daily ...
The Nasdaq Composite rose as much as 1 percent on Tuesday as shares of Netflix soared 6 percent after it announced it would raise its prices for streaming services. Overall, prices went 13 to 18 percent higher--the online streaming service company's biggest price jumps in over 10 years. Exchange-traded funds with exposure to Netflix were higher.
Hulu’s Subscribers Touch 25 Million: Is Netflix Worried? ## Hulu CEO comments On January 8, Hulu’s CEO, Randy Freer, expressed confidence that the company can “catch up” to Netflix (NFLX) in terms of subscribers. On that day, Hulu announced it added 8 million subscribers in the United States, taking the subscriber tally to 25 million. Freer said to CNBC, “We added more subscribers in the U.S. than Netflix. We expect to grow more this year than we did last year.” Hulu’s CEO said, “I look at where we are now, with 85,000 episodes of on-demand television, that’s twice as much as Netflix and Amazon combined.” ## Netflix subscribers Netflix has a US subscriber base of 58 million. The American media company added 1.09 million domestic subscribers in Q3 2018. Netflix is expected to report its Q4 2018 earnings on January 17 after markets close. Recently, Netflix along with Amazon (AMZN) have witnessed massive spending on creating original content with Netflix’s reported spending touching ~$13.0 billion in 2018. In the first week of 2019, Netflix scored five Golden Globe awards. The company’s tally was higher than any other network or streaming service. Amazon had to be content with two Golden Globes for its original content. Netflix’s spectacular performance got a strong boost from the market participants with the stock rallying more than 23.6% in the last five trading sessions. Hulu has shelled out a huge chunk on content recently. It was apparent from its CEO’s comments that the company is committed to spending a lot of money in the coming quarters. The company aims to expand its present library with more focus on investing in original content. ## ETF discussion Among all the ETFs with Netflix in their portfolio, the Invesco NASDAQ Internet ETF (PNQI) has the highest weight of 9.45%. This ETF has 8.36%, 8.26%, and 8.22% exposure to Facebook (FB), Amazon, and Alphabet (GOOG), respectively.
Technology ETFs have been the beneficiaries of a NASDAQ that has been on an upswing in 2018, but today, the party came to a temporary halt today for those holding Facebook as the social media company disappointed ...
The week starting Monday, July 23 brings a slew of earnings reports from members of the Dow Jones Industrial Average and S&P 500. Among the marquee names reporting for the week are Google parent Alphabet ...
CNBC's Mike Santoli reports on tech stocks looking to rebound after the worst October in 10 years. He highlights Apple ahead of its quarterly earnings report after the closing bell.