Lyft Soars Higher Than a Bird, Higher Than a Plane...Almost Superman!

Up Up and Away...to the Bank!

Greetings citizens of Earth! It's your friendly neighborhood Superman reporting live from the Fortress of Solitude (don't worry the ice sculptures are holding up nicely). Seems Lyft's stock decided to take a page out of my book and went soaring! A whopping 23% jump! That's almost as high as I fly when Lois is in trouble…almost. They upped their share buyback plan and their gross bookings looked better than a perfectly crafted ice sculpture of yours truly. Makes a guy feel all warm and fuzzy inside almost like basking in the rays of our yellow sun!

No Need for X Ray Vision Here!

Lyft CEO David Risher in an interview with CNBC (which I almost mistook for Kryptonite radio thankfully it wasn’t) said there’s nothing to worry about. Apparently despite all the economic mumbo jumbo people are still hopping into Lyfts like they're escaping General Zod! And you know what I always say (or at least should start saying) 'Keep calm and Lyft on!' because 'truth justice and the American way' and all that jazz.

Booking It!

Gross bookings grew 13% to $4.16 billion. I have seen better numbers but even I know that for mere mortals these are good numbers. Rides increased 16% to 218.4 million. That's a lot of people avoiding parking tickets! Maybe they should call me for a faster commute. But then again it might defeat the purpose of ride sharing and you know 'a friend in need is a friend indeed'. So maybe I'll just stick to saving cats from trees and the occasional bank robbery.

From Loss to Boss!

The company actually made a profit! A whopping $2.57 million or 1 cent per share. Now I know what you're thinking: a penny? But hey a penny saved is a penny earned and even Superman appreciates a good comeback story! After all I've had a few myself.

Activist Investor Retreats – Victory!

Even Engine Capital the activist investor who seemed determined to shake things up decided to call a truce. They're halting their campaign after Lyft decided to buy back more shares. Turns out money talks even louder than Lex Luthor's rants. As they say on Krypton 'When the dust settles the strong survive... and sometimes the investors get a good deal!' That might just be my Kryptonian translation of course!

Uber Under Pressure?

Meanwhile poor old Uber's shares took a bit of a tumble after mixed results. Even their kryptonite levels are dropping. However Goldman Sachs decided to play hero and upgraded Lyft's shares. Looks like everyone wants a piece of the high flying action! Just remember folks whether you're in a Lyft or an Uber always buckle up and try to avoid any kryptonite exposure. You'll thank me later.