$LYFT DD
Fellow degenerates I have recently begun digging into LYFT and think this has some serious potential.
From a technical analysis the stock just poked its head into a massive gap and has moved above its 200 day moving average. Potential to fill the gap up to 16 which would be 40% from here. Trading at a forward PE of 24 which is half of Ubers at 50.
Covid obviously destroyed the ride sharing market and LYFT did not recover near as well as Uber which is a large portion of why it鈥檚 down massively. I think that is about to change with LYFTs new leadership.
New CEO David Risher has a ton of experience and was a VP of Amazon helping lead them from 15 million to 4 Billion in retail sales. He is focused on the core business and has already made changes including giving drivers more control of where they go and not delivering food which drivers say makes them less money. There isn鈥檛 much keeping drivers or riders from switching to LYFT.
A few days ago there was a report from YipitData that found Q2 ride-demand for Lyft more than doubled from 7 to 15 percent while Uber slipped from 28 to 17%. They also stated Lyft is roughly 30% of the ride sharing market which I believe is an increase.
I think we fill the GAP.