The ride-sharing company lost more 18 percent in stock value since its initial public offering (IPO). Lyft priced its IPO at $72 per share.
Last month, Activist short-seller Andrew Left of Citron Research said he is bullish on Lyft shares. He gave five reasons why Lyft is a good investment and warned that betting against the company’s stock is a “sure way to go broke.”
In a note to clients, Mr. Left wrote, “Shorting disruptive companies that dominate a megatrend simply because they lose money is a sure way to go broke.”
