Uber or Lyft? It's not just a question for individuals looking to hail a ride. It's a question facing many investors. Wedbush Securities Managing Director and Senior Equity Analyst Dan Ives weighs in on the latest edition of Good Buy or Goodbye.
Ives is buying Uber Technologies (UBER) arguing "2024 is going to be a massive year for Uber." Ives likes the stock because of its cash flow and profit story, saying the "valuation's compelling" and that he believes the company's future growth and profitability is a "phenomenal balance that you just don't get across tech." Ives also credits Uber's "disruptive tech" for his bullishness.
Ives isn't as much of a fan of Lyft (LYFT), calling it Uber's "little brother," adding "If you looked up disaster in the dictionary, you'd see this ticker." Ives says Lyft is losing market share and needs to cut more costs. He also doesn't think M&A is a an option for the company, though he says he would turn bullish if the M&A picture changes or the business turns around.
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