Fast Money Blog- 5/10/19

Are Ride Sharing IPOs Right for Your Portfolio?

As you know today, Friday, May 10th, Uber Inc. (UBER) stocks went public. Recently there’s been a feeding frenzy around ride-sharing stocks that have gone public. For anyone who doesn’t know, Lyft is one of several ride-sharing companies that provide ride-sharing services for individuals and businesses throughout the U.S. and Canada.

Since going public on Friday, March 29th, 2019 Lyft stock has gone from a high of $78 to a low as $56.  In 2019, Lyft reported top-line revenue of $776 million on losses of $1.14 billion due to IPO-related expenses.  As you know, as a Wealthy Investor we never trade or invest in stocks that have billion dollar losses on the bottom-line.

Never, ever, ever buy an IPO.