Who is buying shares in the open market once Lyft starts trading?

ftupelo

Well-Known Member
Ants,

Any of you who aren't participating in the IPO planning on purchasing shares on the open market once trading starts? I certainly will not be. I think the business model faces many challenges and a path to profitability is too far off for me. It may take a combination of the two business to create the scale necessary to make the business model work. I will be waiting on the sideline until I see an attractive entry point or some catalysts that changes my opinion of business prospects.

Toodles,

Frankie
 
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ftupelo

Well-Known Member
Ants, shares popped to $86 out of the gates, giving the company a $30B valuation. It is trading at a high multiple to sales at ~13x, but that is not an entirely unheard of valuation. Other software companies including Workday, Adobe, and Autodesk all trade for 10-12x sales and Veeva Systems trades for 17.5x sales.
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I am buying 1 share. That is all!
Shares really fading now, down to $83. Where are the buyers to step in?
 
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PlanoGuber

Well-Known Member
I'll wait for $40-$50... There's going to be a drop. I still think it's a segment I'd like to have in my portfolio.
 

ftupelo

Well-Known Member
I hope you Ants didn't buy on the open market at open. Now down over $20 a share or ~25% - lots of pain to go around.
 

ftupelo

Well-Known Member
Today was a relatively good trading day for Lyft. After trading down meaningfully early in the session, it bounced off the lows to close the day nearly flat.
 

Uberbrent

Well-Known Member
Where are all of those “traders” that stated they are shorting the IPO? Did you short your 100 shares at the open? No, you didn’t. No knowledge how the market works is tantamount to failure. Did you buy all of those puts? No, you didn’t.
 

PlanoGuber

Well-Known Member
Where are all of those “traders” that stated they are shorting the IPO? Did you short your 100 shares at the open? No, you didn’t. No knowledge how the market works is tantamount to failure. Did you buy all of those puts? No, you didn’t.

Surely you're not saying all the keyboard Gordon Gekkos on UP.net don't even have brokerage accounts??? If you had been thoughtful enough to buy in the mid 60's you could have made some quick cash by today.
 

songoku

Well-Known Member
Surely you're not saying all the keyboard Gordon Gekkos on UP.net don't even have brokerage accounts??? If you had been thoughtful enough to buy in the mid 60's you could have made some quick cash by today.

Bro, Only amateurs trade IPOs early after listing.
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$LYFT investors can’t wait until lock up expiration to cash out.

 
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