Your Daily Bit of Wall Street Wit & Wisdom

Lyft IPO party

Lyft IPO party in Los Angeles, h/t Alex Welsh for the New York Times

“The chief losses to investors come from the purchase of low-quality securities at times of favorable conditions.”
— Benjamin Graham

Friday’s launch of trading in the Lyft IPO (initial public offering) made plenty of news.  What it didn’t make was money for those who bought at the open.  All those who clambered to get in on the action closed under water.

IPOs can be used as an exit strategy for business owners and early investors.

The ride-hailing company reported losses of $682 million in 2016, $688 million in $2017, and $911 million in 2018.  Lyft has cautioned that losses could mount as the company seeks international expansion.

IMO, zip your wallet.

Get where you want to go and enjoy your weekend!

Best regards,

Steve

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