Take the money and run! - Billionaire Carl Icahn sold Lyft stake prior to IPO: WSJ

jocker12

Well-Known Member

(Reuters) - Billionaire investor Carl Icahn sold his roughly 2.7 percent stake in Lyft Inc ahead of the ride-hailing company’s initial public offering, the Wall Street Journal reported, citing sources.
Jonathan Christodoro, a former managing director of Icahn Capital LP who was on Lyft’s board until last month, connected the activist investor with the buyer of the stake, which was worth about $550 million at the IPO price, according to the WSJ report.
Lyft could not be immediately reached for comment.
 

Lee239

Well-Known Member
But didn't the IPO open higher than his private stock sold for? Had he waited wouldn't he have made a lot more money? as long as he didn't have to hold on to it, I don't know if he would be allowed to do a pump and dump.
 

heynow321

Well-Known Member
Icahn is very smart but I’m not sure about Travis. I think he just got lucky with Uber and then got kicked out for being a terrible manager.
He has publicly stated without sdc’s (which anyone paying attention knows are not possible) boober is toast. He tried to flip all of his shares to the Japanese But they wouldn’t take them. He’s a prick but he’s not dumb...at least not dumb in the way people buying gryft shares are.
 

iPHX

Active Member
He screwed the largest and most iconic airline brand (perhaps same level of international recognition as Coca-Cola or 7-Eleven) TWA and sold off its assets to AA to make a buck and run...no surprises here.
 

heynow321

Well-Known Member
But didn't the IPO open higher than his private stock sold for? Had he waited wouldn't he have made a lot more money? as long as he didn't have to hold on to it, I don't know if he would be allowed to do a pump and dump.
He would have been subject to the lockup period
 

UberAdrian

Well-Known Member
He screwed the largest and most iconic airline brand (perhaps same level of international recognition as Coca-Cola or 7-Eleven) TWA and sold off its assets to AA to make a buck and run...no surprises here.

Ya he's an @@@@@@@ but have you seen the shit KKR has pulled over the years?
 

EphLux

Well-Known Member
Smart guy. Him and Kalanick see the same end game from this unsustainable model
THIS is when I KNEW Uber lost the ride share wars for good versus Lyft:
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He has publicly stated without sdc’s (which anyone paying attention knows are not possible) boober is toast
If he said that, he's not THAT smart. Even with a full nationwide fleet of 100% safe and accurate self driving cars, neither Uber not Lyft could turn a profit. Why not? They'd continue to undercut one another on price, never becoming profitable. EVER. Their model simply is unsustainable in an unregulated industry.
 
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