Below is a note written by CEO Keith McCullough on why we're adding Lyft (LYFT) to the short side of Investing Ideas today:
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LYFT has lifted on low volume to lower-highs this week but remains a SELL idea @Hedgeye. Here's how Ami Joseph characterized LYFT's first reported quarter as a public company: "This is one of those EPS reports where even the good stuff is bad. LYFT’s share gains in Lyft Enterprise, for example, just make an Uber response in that area inevitable considering the significance of the categories’ future EBITDA." Sell the bounce, KM |