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Lyft Files For IPO With SEC

Daniel Chase

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Several months ago, Lyft, a popular ride-hailing company, announced their selection of JPMorgan Chase & Co. as the “lead underwriter of its initial public offering along with Credit Suisse Group and Jefferies Group, the WSJ reported. The company, last valued at approximately $15 billion, laying the groundwork for their initial public offering (IPO) ahead of their biggest rival, Uber, who plans on pursuing an IPO sometime next year. Since its inception, Lyft has played a massive game of catch-up in a market dominated on all fronts by Uber Technologies. While both companies have emerged as the leading brands in the ride-hailing industry, Lyft has historically ridden in the back seat, with Uber confidently at the wheel, touting a potential $120 billion valuation. 

Lyft announced their plans to beat Uber to market, by filing paperwork with the Securities and Exchange Commission for an IPO on Thursday:

“…Lyft has confidentially submitted a draft registration statement…with the Securities and Exchange Commission (the “SEC”) relating to the proposed initial public offering of its common stock. The number off shares to be offered and the price range for the proposed offering have not yet been determined. The initial public offering is expected to commence after the SEC  completes its review process, subject to market and other conditions.”

Lyft Press Release Regarding IPO Filing 

Lyft’s filing with the SEC on Thursday not only indicates to potential investors that the company is ready to take their company to the next level but more than that, Lyft’s executives recognized the cruciality of at least preparing to go public ahead of Uber. If Lyft proceeds with their initial public offering, they will be the first ride-hailing company available for public investors, and how they perform on the market will be an indication of where the fast-growing industry is headed overall. While Uber, Lyft, and several other ride-hailing startups have gathered vast amounts of funding from venture capital firms, no such company has dared go public. 

As exciting as Lyft’s IPO may be, several analysts, including Jay Ritter, an IPO expert  and professor at the University of Florida, believe that the current state of the stock market, weakened after months of trade tensions between the United States and China, could dampen the excitement for offerings from Lyft and, eventually, Uber. 

“Market decline means that the offer price will be lower than otherwise. But there’s a danger of waiting to go public as well — markets could go even lower, and the companies could raise less money if they waited longer.”

Jay Ritter

In anticipation of going public, both Lyft and Uber have invested capital in the widely successful sub-sect of the ride-hailing industry; scooter-sharing. About a year ago, two companies — Bird and Lime — began leaving their motorized scooters on city streets and sidewalks, meant for people with each company’s respective smartphone app to unlock and ride off into the sunset. The ‘micromobility’ industry, as its come to be called, has inspired a myriad of bike/scooter-sharing startups, purposed with championing vehicular options for ‘last-mile’ transportation. Several months ago, Uber caught on to the emerging industry and spent $200 million on acquiring the bike-sharing startup Jump, which has since released its own line of electric scooters. 

Lyft isn’t oblivious to the success of the micromobiity industry in the slightest. Several days ago, the company announced plans to set loose its own fleet of Lyft scooters in Austin, Texas, representing the company’s fifth scooter launch of the year, according to their website. 

“This summer, we mapped out our vision for how Lyft bikes & scooters will reduce the number of vehicle miles traveled, increase public transportation trips, and provide equitable tranpsoration solutions. In Austin, we have a trio of partnerships to announce as our scooters launch on your streets.”

Lyft Press Release December 4, 2018 

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Energy

Where Will Oil Go After This Week’s Price Hit?

Jon Phillip

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Even though oil had been taking a beating over the last 2 trading sessions, its price rose to $69 per barrel on Friday. However, oil prices are experiencing the worst week of 2019 mainly due to potential economic slowdown and ever-growing oil inventories. US oil inventories have not been this high since July of 2017. And to top it all off, the trade war between the US and China is growing wearier every day further affecting oil prices.

Naeem Aslam, the chief market analyst at TF Global Markets, stated, “Clearly, bargain hunters are back in town.” He later added, “However, it is still set to record the worst week of the year and this is due to the increase in trade war tensions between the U.S. and China.”

Global Scale

The global benchmark for oil, Brent Crude, has experienced a decrease of 5 percent this week. However, Brent Crude this morning climbed $0.98 to value each barrel at $68.74. Due to US sanctions and voluntary supply cuts, a floor under prices held. Market analysts are expecting the oil market to recover off of the price floor.

“It is reasonable to doubt whether Saudi Arabia will be willing to step up its output given the latest decline in prices, […] we therefore expect to see higher oil prices again in the near future,” Explain analysts at Commerzbank.

In order to make the market tighter, the Organization of the Petroleum Exporting Countries has been cutting oil supplies since the beginning of the year. 

Brent Crude’s prices reflect that the supply and demand of oil is tightly knit. According to UBS, Brent Crude should get back to $75 this month as supply gets tighter and tighter.

“Compliance of OPEC and its allies to the production cut deal remains high, while production from Iran and Venezuela is likely to again trend lower this month,” explains analyst Giovanni Staunovo,

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StockPrice.com Friday Morning Update – May 24, 2019

Joe Samuel

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New Systems & AI Trigger Innovation In Security Industry; Can Lockheed Martin Adapt?

Threats to people’s lives are constantly developing across the globe. In order to mitigate the growing fears of international conflict, security and defense companies have continuously innovated. Living in constant fear is never sought and these companies understand that. Security innovations allow people in the US to walk around freely at the park or go watch their favorite artist at a concert with little to no fear.

New Potential for the Security Industry & Security Stocks – Click Here


Two Massive Growth Industries, One Choice for Investors

Two of the fastest growing industries right now in the United States are on-demand technology and cannabis. These two industries are at the epicenter of growth and investors aren’t being shy about their appetite for companies in these arenas. But one company, in particular, has developed a unique business model that services both of these massive growth industries.

Click Here For More Information


The Delivery Market in the Age of Convenience; Can GrubHub & Uber Adapt?

As the internet grows and develops, people and services become more connected. Thus, the food delivery service industry has blown up over recent years. Big players like UberEats (UBER), Postmates, and DoorDash are making big splashes against competitors like GrubHub (GRUB). These companies only represent a fraction of what delivery services can become.

Will This Be The Future For Delivery Stocks As We Know It? Click Here

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Featured

New Systems & AI Trigger Innovation In Security Industry; Can Lockheed Martin Adapt?

Joe Samuel

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Threats to people’s lives are constantly developing across the globe. In order to mitigate the growing fears of international conflict, security and defense companies have continuously innovated.

Living in constant fear is never sought and these companies understand that. Security innovations allow people in the US to walk around freely at the park or go watch their favorite artist at a concert with little to no fear.

New Potential for the Security Industry & Security Stocks

While developing security protocols and machines to fight threats overseas is important, home-grown threats have become a point of concern for US citizens. Mass shootings have increased, and the Muslim radicalization of American citizens is prevalent as ever. In order to make people safer, Liberty Defense has come to fill that hole.

Liberty Defense Holdings Ltd. (SCAN.V) is developing HEXWAVE to revolutionize how facilities get secured. HEXWAVE can be used to detect any kind of weapon through 3D imaging. The technology utilizes both quickness and indiscretion to produce warnings of potential threats while respecting people’s privacy. 

While the product is still undergoing testing, Liberty Defense Holdings Ltd. (SCAN.V) has been taking steps to put HEXWAVE in front of the public. The company recently announced signing a memorandum of understanding with Utah’s Attorney General to beta test HEXWAVE there. The technology can be tested at sporting events, amusement parks, schools, and government buildings.

Bill Riker, Liberty Defense’s CEO, stated, “HEXWAVE can be applied in a variety of settings to provide a means to identify possible threats before they advance into attacks. We are excited that the Attorney General of Utah recognizes the potential value of this technology and the opportunity it provides for enhanced security in the state.”

What’s Should Be Expected Of Defense Companies?

When people think about the US armed forces they marvel at the gear used from tanks to jet planes. Most people do not take the moment to think where the US actually gets its arms from.

Report: This New Technology Could Transform A Multi-Billion-Dollar Industry!

One company responsible for US defenses is Lockheed Martin (LMT). Lockheed Martin develops and manufactures missile systems, aircraft, and training systems. They even provide cybersecurity services to governmental figures.

While Lockheed Martin controls a large portion of the defense industry, they show no signs of slowing down. Recently, the company made progress on its new production facility in Alabama. It is expected to be a 225,000 square foot facility to fulfill US Air Force needs.

The construction is expected to be finished in 2021. Executive Vice President, Frank St. John, explained, “All our employees come to work with an unwavering commitment to help our customers succeed in their mission to create a more secure and prosperous world.”


security defense stock
Disclaimer: Pursuant to an agreement between MIDAM VENTURES, LLC and Liberty Defense Holdings Inc. Midam was hired for a period from 04/15/2018 – 5/15/2019 to publicly disseminate information about Liberty Defense Holdings Inc. including on the Website and other media including Facebook and Twitter now extended through June 21, 2019. We were paid $350,000 (CASH) for & were paid “0” shares of restricted common shares. We may buy or sell additional shares of Liberty Defense Holdings Inc. in the open market at any time, including before, during or after the Website and Information, provide public dissemination of favorable Information. FULL DISCLAIMER HERE




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