Wall Street Breakfast
Lyft’s earnings typo sparks wild after-hours ride
Feb 14, 2024
Lyft shares take a wild ride due to an earnings typo. Coca-Cola rumored to be interested in acquiring healthy soda brand Poppi. Airbnb beats revenue expectations and announces a $6B buyback. Other topics include algorithmic trading, Twilio's upcoming Q4 results, and notable investor events.
07:25
AI Summary
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- Lift's shares initially surged after positive forward guidance indicating positive free cash flow in 2024, but the surge was short-lived due to a correction by the CFO regarding adjusted EBITDA margin expansion.
- Coca-Cola is reportedly interested in acquiring Poppy, a popular healthy soda brand known for its fruit juice, apple cider vinegar, and prebiotics.
Deep dives
Lift's shares soar and then fall due to press release discrepancy
Lift's shares experienced a significant surge of more than 60% after the bell on Tuesday, driven by positive forward guidance that predicted positive free cash flow in 2024. However, this surge was short-lived as social media posts pointed out a correction by the CFO concerning the adjusted EBITDA margin expansion, indicating only a 50 basis point increase instead of the initially reported 500 basis points. Algorithmic trading may have exacerbated the market response. Lift has a short interest of 13.47%.
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
