It seems these days that anything SoftBank Group touches turns to garbage. WeWork is the most publicized exampled, but their huge example in UBER is just as bad. What’s remarkable is that both UBER and LYFT, breathlessly anticipated before their public offerings, have both been wrecks.
What is particularly remarkable is LYFT, which spends most days creating new lifetime lows. Just think about it: in the most over-supported, QE4-pumped, China-trade-rumors market in human history, this piece of crap just keeps falling. In an honest, organic market, I suspect it would be about 67 cents a share or so.