Lyft's Stock Soars! Is This Ride-Sharing Company Finally Cooking With Gas?

Wake Up Donkey! Lyft's Stock Price is On Fire!

Right listen up you lot! Lyft's shares have gone and climbed 28% on Friday. 28%! It's enough to make you choke on your bloody Beef Wellington. Apparently they've upped their share buyback plan and posted better than expected gross bookings. Better than expected? Is that all you've got? I want perfection! This is their best day since February but don’t start celebrating just yet we are going to take a look behind the scenes and see if they are really cooking with fire or are they just another bunch of amateurs.

CEO Boasts: "Nothing to Worry About" – Really?

Lyft's CEO David Risher bless his cotton socks is chirping on CNBC that they aren't seeing "anything to worry about" despite the economic doom and gloom. "Our team is stronger than it's ever been and the consumer demand is absolutely there," he says. Consumer demand is there? Well duh! People still need to get from A to bloody B don't they? But let's not get ahead of ourselves. We need to see if they are getting their basics right first.

Gross Bookings Growth? More Like "Gross"ly Overstated...

Okay the numbers. Gross bookings grew 13% to $4.16 billion beating estimates. Big deal. It's their 16th straight period of growth apparently. And rides increased 16% to 218.4 million. Alright alright settle down. Don't think you're a Michelin star restaurant just yet Lyft. This is just the appetizer; let's see if the main course is just as delicious.

Revenues Fall Short! Are They Blondies In The Kitchen?

Hold on a minute! Revenues grew 14% to $1.45 billion but fell short of estimates. Fell short? Are you having a laugh? This is amateur hour! Net income is up but that revenue miss is a bigger red flag than a badly cooked piece of meat. Wake up!

Share Buyback: A Band Aid on a Bullet Wound?

The board is throwing money around like confetti boosting the share repurchase plan to $750 million. $750 million! Are they trying to buy their way out of trouble? It looks like activist investor Engine Capital is backing off so maybe they are on to something. But I am keeping a close watch on these guys they need to prove themselves and their worth.

Uber's Stumble and Goldman's Praise: A Recipe for Disaster?

Uber that other donkey had a mixed week. And Goldman Sachs upgraded Lyft citing rides and bookings growth. Goldman Sachs? Don't get cocky just because some banker said something nice. This is a tough business. They need to keep their heads down focus on quality and stop serving up garbage. Now get out of my kitchen!