90% of Lyft drivers work there while having another job or while looking for full time work.
At $72 per share I'm sure they can afford to invest in the company they made so valuable. :-/
At $72 per share I'm sure they can afford to invest in the company they made so valuable. :-/
This doesn't take away from your comment completely though, most Lyft drivers wouldn't have the spare income to invest into the company, it's just not because the share is $72 that they can't invest.
But it's because they've pushed so much into this share price, that surely they could've put more money into drivers pay, instead of lining their corporate overlords pockets.
If you consider a $40 ride will only yield about $25 for the driver, there is a lot of room to give more to drivers.
Sad to see this sort of cash grab by the current Lyft shareholders.
Lyft is loosing 1B/year
there is no "free money" to give out to anyone, engineers, drivers, marketers. its a tight market.
It's P/E does... because there's no earnings.
However, the point I was trying to make is that a driver could not afford to buy shares even if they wanted to.