Why I’m Betting UBER Is Crushing LYFT
UBER reported an excellent 4Q22 before the market opened on Wednesday and shares rose 5.32% on the day as you can see in the chart above. However, note that shares of LYFT fell 6.58% on the day. What does it mean? It means the market is betting that UBER’s results are not about the overall ride hailing market but company specific. That is, the market is betting that UBER is crushing LYFT – and I think it’s right. Therefore, I’m fading LYFT heading into its 4Q22 earnings report this afternoon – and you might want to too.