As Uber and Lyft reached their public-market nadir in mid-March, you’ll have been forgiven for considering they have been heading below. If the markets are considerably environment friendly, why else would America’s prime two ride-hailing corporations shed two-thirds and three-quarters of their worth, respectively, in simply over a month?
As we all know now, each corporations rapidly recovered and have since regained a lot of their former worth. The two public companies have guided for a sharply unprofitable Q2 2020, however traders seem content material to see their bettering outcomes as proof that the worst is behind them.
Airbnb is one other firm that may very well be out of the worst of it and shared two information factors these days that solid optimistic gentle on its operations. Three of the most-famous American unicorns that have been hit among the many hardest by the pandemic, then, are coming again to a level.
Today I need to parse the three corporations’ public notes concerning their efficiency so we are able to monitor how their fortunes have modified. This will assist us perceive how a lot have issues improved since their collective worth reached all-time lows. And, it seems that Uber and Lyft might need some excellent news for Airbnb shareholders.
In mid-March, on the identical day that Uber and Lyft shares got here off their report lows, Uber advised traders that “trip quantity has gone down by as a lot as 60%-70% in latest days within the hardest-hit cities like Seattle,” however that it might get by way of “even within the worst-case state of affairs of rides down by 80% for the yr” with sufficient money to outlive.