Lyft’s inventory continues to dive after its dismal week
Logan Inexperienced, co-founder and chief government officer of Lyft Inc.
Lyft’s week is off to a dreary begin because the inventory continues to tumble after dipping almost 20% over the earlier week.
corporations, with many nonetheless not sure what to make of Uber’s excessive anticipated IPO valuation whereas it continues to maintain vital losses. Besides, some proceed to doubt the worth of both firm.
Valuation knowledgeable and New York College Professor Aswath Damodaran mentioned in an interview on CNBC’s Quick Cash final week that each Uber and Lyft depend on “free agent[s]” in each clients and drivers for his or her core companies.
“There may be completely no stickiness within the enterprise, and so they understand it,” Damodaran mentioned. “That is the fundamental drawback I’ve with the ride-sharing enterprise not simply Lyft.”
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Watch: You need to let Lyft’s inventory settle, says Nuveen’s head of world fairness analysis