Citron Research is long Lyft and says that anyone betting against the company is an 'amateur.'
in its first few days of trading. Lyft opened for trading at $87.24 and subsequently fell below their initial-public-offering price of $72 before partially recovering on Friday.
Citron was a pre-IPO investor, holding its shares for at least two years. In addition, the firm has continued to buy the stock on the open market following the IPO. Citron notes it has 25 years of experience shorting stocks, which have included Wayfair and Tesla, and listed several reasons why Lyft is not a suitable short candidate. Citron cites the following reasons not to be short Lyft.Active riders have grown more than 500% over the past three years, with use among millennials exponentially higher than older cohorts. This indicates the number of active riders will grow significantly as this cohort ages.
"This is not a trendy video game or a GoPro camera…. this is a way of life that is saving people time and ensuring safety. Ridesharing is not a fad… it is a megatrend," Citron said.According to preliminary IPO valuations, Uber may go public at a $120 billion valuation. This is a significant premium to Lyft, roughly six times its public-market valuation despite it taking share in the US market.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Lyft's shares rise after Citron advises against shorting stockShares of ride-hailing company Lyft Inc rose as much as 4 percent on Friday, set...
Weiterlesen »
Lyft shares fall again as analyst says buying the IPO here is 'leap of faith'Shares of Lyft fell for a second straight day after an analyst raised concern over the ride-hailing company's valuation.
Weiterlesen »
Lyft gives up debut gains on second day of tradingLyft’s IPO joyride comes to abrupt halt on its second day of trading via ReutersTV
Weiterlesen »
Lyft is a 'treacherous' stock, post-IPO action is 'extremely negative': O'LearyThe problem with Lyft, market watcher Kevin O'Leary says, is that 'it makes no money.'
Weiterlesen »
Why some green investors are passing on Uber and LyftSome environmentally focused investors are not ready to buy into Lyft Inc or Ube...
Weiterlesen »
Lyft is having a messy first few days of tradingLyft was volatile in Tuesday trading.
Weiterlesen »
Lyft falls further from IPO after receiving first 'sell' ratingLyft Inc's stock sank further below its IPO price on Tuesday after receivin...
Weiterlesen »
Carl Icahn sold Lyft stake prior to IPO: WSJBillionaire investor Carl Icahn sold his roughly 2.7 percent stake in Lyft Inc a...
Weiterlesen »
Carl Icahn sold Lyft stake to Soros prior to IPO: WSJBillionaire investor Carl Icahn sold his roughly 2.7 percent stake in Lyft Inc t...
Weiterlesen »
An investor once told Lyft's founders he was 'not sure about this carpool thing'An investor once told Lyft's founders he was 'not sure about this carpool thing' via CNBCMakeIt
Weiterlesen »