Uber’s decision to value itself at $100 billion rocked Lyft stock on Wednesday, causing the embattled rideshare company’s shares to plunge as far as 10%. Contrary to the prevailing narrative, however, a strong Uber IPO would be wildly bullish for Lyft shares. Uber’s $100 Billion Valuation Is a Stupid Reason to Dump Lyft Stock Sell Lyft for whatever reason you like: the dual-class voting structure, the lack of a business model that makes money, or just because you’re an Uber groupie. What you shouldn’t do is dump your Lyft shares just because its larger competitor is worth twice as much
The post Why Uber’s $100 Billion Valuation is Wildly Bullish for Lyft Stock appeared first on CCN
source https://www.ccn.com/why-ubers-100-billion-valuation-is-wildly-bullish-for-lyft-stock
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