Lyft shares hit 52-week high after accidently including an extra zero to one of its profit margins in an earnings statement::undefined
This is another riminder that company share values don’t need to reflect the actual company value.
I am sure the error was caught before any executives had time to sell shares.
In the trailing off part of the article,
“Many stock trades are done by computers, reacting in fractions of seconds to new information. The inflated margin likely triggered a buying frenzy before most people could digest the numbers.”
Which, if true in this case, is even more funny to think about. Not only does the share values not reflect actually company value, but that value isn’t even what a person thinks it is.
I’m reminded of the helpless employee who says “The computer won’t let me do it.” The enigma of the computer that is off doing it’s own thing.
Some dolt told me that in hospital billing one time. I had two different insurances that said they’d pay. They failed to charge me. They were giving me 30 days before sending it to collections. I have them the insurance numbers twice. I called on day 27 and asked what are you guys doing? The guy said “the computer is going to send it to collections in a few days… it won’t let me do anything!” as if that makes any sense.
And now they are about to hit a 52 week low.
It keeps on claiming. The over all earning results were fantastic. The stock is going ballistic due to the correct info, not the mistake.
If you or I pull an ‘oopsie’ and underreport your income by a factor of ten, you’d be in jail
Orphan crushing machine must continue so Line Goes Up
this is how you “accidentally” liquidate shorts.
Lyft shares hit 52-week high after…
fraud
“accidentally”
