News Formal

Lyft CEO David Risher Says His Stock Buy Is ‘Best Investment’

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 97%

United States News News

United States United States Latest News,United States United States Headlines

Newly appointed Lyft CEO David Risher just bought $1.1 million of shares of the ride-hailing company.

Lyft has been playing second fiddle to its larger ride-hailing rival, but new CEO David Risher bought a large block of stock backed by his optimism for the company.

Risher was named Lyft CEO effective on April 17, and one of his first acts was terminating nearly 1,100 employees, about 26% of the workforce, that month. Disappointing guidance the next month sent shares sliding. On Aug. 8, after the market closed, Lyft reported strong second-quarter numbers that were overshadowed by a mixed outlook. Shares slipped.

In response to a request for comment, Risher wrote in an email, “This is all about investing in Lyft as we build a very successful, very customer-obsessed business. Seeing this team in action shows me it’s the best investment I could make.”

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

| Lyft to Expand Its Ad Business as New CEO Eyes a TurnaroundThe ride-sharing company and its larger rival, Uber, are racing to build significant ad operations.
Source: WSJ - 🏆 98. / 63 Read more »