Reported 14 days ago
Billionaire investor David Tepper has dramatically increased his stake in ride-hailing company Lyft by 1,600%, buying 7.5 million shares last quarter. As the ride-sharing market is expected to surpass $200 billion by 2029, there are growing signs of recovery within Lyft's operations, with recent earnings reports showing an uptick in rides and profitability. Despite its smaller size compared to Uber, Tepper's investment suggests that Lyft could be a deep-value buying opportunity for investors seeking growth in a revitalizing economy.
Source: YAHOO