Uber is under pressure to turn around its 'horror show' after Lyft had a stellar quarter - Business Insider

While Uber continues to invest heavily in areas like self-driving cars and flying taxis, Lyft cut costs with its singular ride-hailing focus. "Since going public, Uber has been a horror show," one Wall Street analyst said of the stock's 25% decline. Lyft is also down 45%Investors are keeping close watch on Uber Monday as the ride-hailing giant prepares to report its third-quarter financials, and the backdrop couldn't be worse.a year sooner than most on Wall Street had expected.

"It's our focus," Brian Roberts, Lyft's chief financial officer, offered as a reason for the bear. "We're not doing food, we're not doing trucking, we are 100% focused on our transportation network." "We think the thesis for owning ride-hailing names has changed," Ma sha Kahn, an analyst at HSBC, said in a note last week. "It is no longer about big growth potential and complete elimination of car ownership . Growth in rides is slowing for both players, but we think price increases and removal of subsidies should yield solid revenue/ANR growth dynamics and improving margins.

And with Uber's lockup period set to expire on Wednesday, when anywhere an estimated 700,000 to 1.7 million shares held by company insiders are eligible to be sold, the near-term risks for the stock price remain high.

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