Reported about 10 hours ago
Billionaire hedge fund manager David Tepper has significantly increased his firm's stake in the ride-hailing company Lyft, purchasing 7.8 million shares and raising Appaloosa Management's investment by 98%. While Lyft faced challenges during the COVID-19 pandemic, it has shown promising signs of recovery with initiatives like the Price Lock program, which has attracted substantial rider engagement. Tepper's moves and the overall financial improvements at Lyft suggest a growing optimism for the company's future.
Source: YAHOO