Yahoo Finance IPO Edge’s Jannarone: Despite Friday’s Wreck, Uber Winning Race to Credibility – Cheddar TV
Uber shares suffered Friday after the company had a big revenue miss the night before, but the ridesharing company is winning the race to credibility with investors over Lyft. That’s according to IPO Edge Editor-in-Chief John Jannarone in an interview with Cheddar TV, when he responded to the Uber results as they rolled out Thursday afternoon. Jannarone pointed out Lyft’s poor communication of its decision to waive the IPO lockup, which will result in the float of shares expanding eightfold in a few weeks. Using a search with Sentieo, Jannarone noticed Lyft’s management apparently unable to predict that the original lockup expired during a blackout period – something that should have been observed at the time of the IPO. Jannarone also urged investors to take a closer look at Activision Blizzard, the video-game company run by veteran Bobby Kotick. The stock is much cheaper than Strauss Zelnick’s Take-Two Interactive but offers similar growth potential.
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