caption Lyft’s performance since going public. source Business Insider/Yutong Yuan Lyft went public one month ago Monday. It’s been an awful few weeks for shares since their March 29 debut, falling 35%. Uber, Lyft’s main rival, is primed to make its stock-market debut next month. Here’s what the last month has shown us about Lyft’s early reception and what risks lie ahead. Watch Lyft trade live. Lyft shareholders haven’t had much to cheer about since the ride-hailing company went public in its historic debut one month ago. With the stock down 20% from its initial pricing and 35% since its opening trade, Lyft’s brutal performance has set the tone for its larger rival Uber and a host of other companies to hit the public market this year. And Uber is weighing on Lyft’s stock even before its own debut. Lyft shares fell to a fresh post-IPO low on Friday after Uber updated … [Read more...] about Uber’s fresh IPO plans capped off Lyft’s brutal first month on the stock market. Here’s everything we know since its debut.
How to buy a share in the stock market
Inside the Chicago hedge-fund turf war; Goldman Sachs explores plans to create a Netflix for data
Olivia Oran, provided by Published 5:32 am PDT, Saturday, April 6, 2019 Dear Readers, Well, that was quick: A week after Lyft's splashy IPO and shares of the ride-hailing company have already come crashing back to earth. Lyft priced its IPO at $72 a share last Thursday evening and opened the next day at $87.24 a share. After a volatile few days of trading, shares closed at $74.69 as of Friday. One analyst slapped a sell rating on the company this week and initiated with a $42 price target, nearly half its IPO price. "In order to justify its current market valuation, investors need to take a big leap of faith that the millennials and later generations will forego ownership of a car and opt instead for reliance on a ridesharing service," the research firm Seaport Global Securities said in an investor note. "Despite the optics of vehicles being an underutilized asset, we believe people will continue to own their own vehicles as primary transportation and instead rely on … [Read more...] about Inside the Chicago hedge-fund turf war; Goldman Sachs explores plans to create a Netflix for data
Uber and Lyft to offer drivers shares ahead of stock market listings
Uber and Lyft are reportedly planning to offer their drivers money to buy shares in the company when they float later this year. Both ride-hailing companies are planning initial public offerings and will reward long-serving drivers with cash bonuses which can be used buy stock, the Wall Street Journal reported. Since the drivers are contractors rather than employees they have so far not qualified for the programmes that offer staff private shares in a company as part of their pay package. The plans could give drivers a head start on the listing, allowing them to buy shares at the initial price, something which is typically difficult to achieve for an ordinary investor. Uber has drivers worldwide, including in the UK. Securities laws mean drivers from areas outside the US may not be able to buy shares but would still qualify for the cash. The company has three million active drivers and couriers, and a large proportion of them are due to be eligible for … [Read more...] about Uber and Lyft to offer drivers shares ahead of stock market listings
Deciding to buy a home instead of rent isn’t always a question of simple math
Hillary Hoffower, provided by Published 11:19 am PST, Sunday, February 17, 2019 10'000 Hours/Getty Images Renting versus buying a home comes down to whether you value certainty or flexibility more, says one early retiree. Buying a home can be an investment and offers the certainty of a fixed mortgage payment, but it also comes with a lot of unexpected costs and can take a while to build equity. Renting is typically more affordable and flexible, and offers an opportunity to build greater savings, but gives residents less control over the property. It's an age-old debate: Should you rent or buy? According to early retiree Tanja Hester, "Often it comes down to the question of which you value more: certainty of how much your housing will cost or flexibility to keep your assets liquid and to move whenever you want," she wrote in her book, "Work Optional: Retire Early the Non-Penny-Pinching Way." Hester, blogger at Our Next Life and influencer in the FIRE (financial … [Read more...] about Deciding to buy a home instead of rent isn’t always a question of simple math
Papa John’s spikes after a report says private equity firms are fighting for a stake in the pizza chain (PZZA)
Ethel Jiang, provided by Published 3:30 am PDT, Wednesday, October 31, 2018 AP Private equity firms are fighting to acquire a stake in the pizza chain Papa John’s, according to Reuters. Shares of the pizza chain rallied 10% following the news. Papa John’s is likely to be valued at $63.50 per share during a potential acquisition, Jefferies analyst Alexander Slagle recently said. Watch Papa John's trade live. Papa John's shares rallied 10% Tuesday after a Reuters report said private equity firms are fighting to acquire a stake in the pizza chain. Reuters reports, Bain Capital and CVC Capital Partners are among the private equity firms competing to buy a stake.* Private equity firms KKR & Co and Roark Capital have also been vying for Papa John’s, with binding offers expected in the next few weeks, according to Reuters' sources. Hedge fund Trian Fund Management, an investor in fast-food chain Wendy's that had expressed interest in … [Read more...] about Papa John’s spikes after a report says private equity firms are fighting for a stake in the pizza chain (PZZA)