Lyft: Massive Liabilities, Limited Capacity to Pay Them, and a Deteriorating Business Outlook🔒 SSL Verified

Visual representation extracted from bleeckerstreetresearch.com

Content Snippets from bleeckerstreetresearch.com

"The reports on this website are the property of Bleecker Street Research LLC (“BSR”). Your use of BSR’s reports and this website is subject to and governed by the below Terms of Use (the “Terms”). The Terms govern all reports published by BSR (each a “BSR Report”) and supersede any prior Terms of Use governing the access and use of this website and BSR Reports, which you may download from this website. By downloading, accessing, or viewing any materials on this website, you hereby agree to the following Terms. In addition, before downloading or accessing any BSR Report, you will be required to affirmatively acknowledge that you have read and agree to these Terms by checking the box presented to you. Each BSR Report may also contain its own position, conflict, and compensation disclosures and an analyst certification, which supplement, and are incorporated into, these Terms."

"BSR is under common control and affiliated with Bleecker Street Capital LLC (“BSC”), Bleecker Street Capital Management LLC (“BSCM”), and affiliated funds, including but not limited to Bleecker Street Minerva LP (“Minerva”) and Bleecker Street Partners LP (“BSP”). BSR, BSC, BSCM, Minerva, BSP, and their respective affiliates and related parties—including, without limitation, any principals, officers, directors, employees, members, clients, investors, consultants, and agents—are referred to collectively as “Bleecker Street,” “us,” or “we.”"

"BSR is a for-profit journalistic organization. BSR researches issues of concern to the general public, including issuers of publicly traded securities, and publishes due-diligence-based reports and its opinion journalism regarding these investigations online. BSR finances this journalism through a non-traditional revenue model where it earns revenue from positions that Bleecker Street, including BSC and BSCM, takes in the securities of issuers on which BSR reports."

"BSC and BSCM are investment advisers registered with the U.S. Securities and Exchange Commission, and manage capital on behalf of outside investors, to whom they owe fiduciary duties. BSR’s business model requires Bleecker Street to take material financial risk, which our partners have exposure to. To manage risk, we must close open positions as we deem prudent. We do not provide “price targets” for securities, although we may express our subjective opinion of the value of a security, which differs from a price target in that we neither know nor claim to know how the market might value such security. We therefore typically do not hold, and provide no assurance that we will hold, a position in a reported-on security until it reaches a price target, nor do we necessarily hold, or provide any assurance that we will hold, positions in securities until such securities reach the price that reflects our opinion of value."