Are the investors overreacting? The stock is slumping since earnings. How is the sentiment among employees? I believe in the company but not sure if this is the right time to invest in it.
Yes they are overreacting. Lyft is a great business. In 2 years they’ll be EBIDTA-positive for core rides. They have a lot of levers to pull. On the earnings call they mentioned several of these: - Flying coach for business travel The ones they can’t pull - or have yet to mention: - Opening engineering offices in lower-cost areas than the Bay Area or NYC - Leveraging their market size to negotiate better deals from payment providers - Streamlining operations and doubling down on operational efficiency They also have a competitor who has been doing all of the above the past years and is EBIDTA-profitable with above $700M profit on core rides.
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Why do you believe in Lyft?