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Lift Skids for another 52-week low by Investing.com




© Reuters. Investing.com – Lift hit a new 52 week low Monday when uncertainty about the valuation continued to shed light on the shareholders to bet against the company, with major competitor Uber (NYSE 🙂 set to steal the trip -sharing- spotlight before listing in May.

When it comes to Lyft (NASDAQ :), investors have apparently adopted the mantra "when in doubt, be on the sidelines or sell." According to financial analyst firm S3 Partners, 75% of the free flow of the Lyft shares is held short, Bloomberg reported. The uncertainty over the ranking company's valuation saw its shares fall as much as 6.8% on Monday, to record lows of $ 55.56.

Heading in a recent trading week, reporting that the company pulled thousands of electric bikes in New York, Washington and San Francisco after complaining of stronger than expected braking on the front wheel has also made investors think twice about supporting the shares.

Lifting is now more than 20% lower than the IPO price of $ 72. [1[ads1]9659006] "We believe there may be continued pressure on the Lyft shares while investors are waiting for Uber's road show and dig into the full financial calculations. , "wrote Wedbush Securities in a note on Friday.

Uber filed its IPO prospect last week, warning it could never make profits and identify strong market competition as a risk factor, saying it would need to further lower its prices and give greater incentives to both drivers and consumers, who can both push ma rgins. It also reported revenues of $ 11.27 billion in 2018 compared to Lyft's $ 2.2 billion.

The lift shares increased after Uber released its prospectus prospect last week, despite some analysts agreeing that it was difficult to compare the two companies, as Uber has a far more complicated model.

"And now that Ubers S-1 was released … we believe that investors do not yet have much clarity about some of the most important comparable calculations," Wedbush added.

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