Lyft won't list on the Nasdaq until the end of March but one Montana-based investment firm is already rating it a 'buy.'
div > div.group > p:first-child"> The second-most popular ride-hailing app is gearing up to list on the Nasdaq at the end of March. According to its regulatory filing, Lyft expects to be valued at $20 billion.
While it has benefited from a series of public relations and operational stumbles at its main competitor Uber, Lyft is"deftly maximizing the benefits by aggressively differentiating its brand/mission around socially-conscious values and corporate responsibility," White said. Lyft released its long-awaited IPO prospectus in early March, showing that much like Uber, it's losing money. The San Francisco-based company lost $911 million on $2.1 billion in revenue last year, according to the filing. Lyft expects sales to grow faster than its losses.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Lyft sets terms of IPO to raise up to $2.1 billionLyft Inc. set terms of its initial public offering, confirming the ride-hailing service is looking to raise up to $2.09 billion. The company said it offering 30.77 million Class A shares to the public, at an expected price of $62 to $68 a share. After the IPO, Lyft will have 271.37 Class A shares outstanding and 12.78 million Class B shares, holders of which will have 20 votes and can convert them into one Class A share, which was one vote. The Wall Street Journal originally reported the terms of the IPO late Sunday, which pegs Lyft's valuation at between $21 billion to $23 billion. The Class A shares have been approved to list on the Nasdaq Global Select Market under the ticker symbol "LYFT." The lead underwriters are J.P. Morgan, Credit Suisse and Jefferies. In 2018, Lyft recorded a net loss of $911.3 million, or $43.04 a share, after a loss of $688.3 million, or $35.53 a share, in 2017. Revenue more than doubled to $2.16 billion from $1.06 billion. Lyft is going public at a time that the Renaissance IPO ETF has run up 28% over the past three months and the S&P 500 has gained 11%.
Read more »
737 Max groundings put a major source of Boeing's revenue at risk, Wall Street warnsBoeing's stock posted its biggest two day drop in a decade and several Wall Street firms are warning that investors were not anticipating the risk now facing the company's core airplane model.
Read more »
Wall Street lifted by latest benign inflation dataU.S. stocks rose broadly on Wednesday with the S&P 500 index hitting a five-mont...
Read more »
Boeing suffers a tumultuous day on Wall Street, but ends the day up half a percentThe Max 8 is Boeing's 'cash cow,' said one aviation consultant. 'It’s a big deal financially. It’s also a big deal reputationally.'
Read more »
Wall Street rises; Boeing up despite U.S. grounding of 737 MAX jetsU.S. stocks rose on Wednesday, led by gains in healthcare shares, and Boeing edg...
Read more »
GE shares drop after giving 2019 earnings forecast lower than Wall Street estimatesGeneral Electric gave shareholders an updated earnings forecast on Thursday.
Read more »
Wall Street flat at open as trade uncertainty clouds Apple boostU.S. stocks opened little changed on Thursday as a report that a meeting between...
Read more »
The newest threat to Wall Street is a House freshman you’ve probably never heard ofPorter is among the freshman lawmakers who flipped the House to Democratic control this year after she won in an upscale Orange County district that had been held by Republicans for more than 30 years.
Read more »
Wall Street muted on trade uncertainty, housing data disappointsU.S. stocks flitted between gains and losses on Thursday as uncertainty over whe...
Read more »
Wall Street analysts wrote an electric car-themed version of Bohemian Rhapsody — and it’s very oddUBS really wants your vote for a closely-watched industry award: 'Nothing really matters, nothing but the vote for your A-Team.'
Read more »