Dissecting Lyft's "Rocky IPO"
In his article for Axios, Felix Salmon recapped a turbulent opening week for Lyft in the public market. Notable events that he described include short sellers being charged an interest rate of more than 100% to borrow shares, and Lyft threatening to sue Morgan Stanley (one of the underwriters for Uber's upcoming IPO), claiming tortious interference in its stock trading. Salmon also quotes Triton's Rett Wallace: "The bottom line: 'You can be a ride-sharing bull and still hate the Lyft IPO. You can even be a Lyft bull and hate the Lyft IPO,' as Rett Wallace, the CEO of private-company intelligence firm Triton, wrote to his clients on Wednesday. 'Lyft made obvious, avoidable, and un-forced errors that the other unicorns coming behind will only repeat if they are not paying attention.' Full article on Axios - HERE