Hedge funds are cozying up to Uber but snubbing Lyft (UBER, LYFT)
|08/15/2019||Posted by BusinessMediaguide.Com under General World News||
- Big name hedge funds bought up big Uber stakes during or shortly after the company’s initial public offering in May, regulatory filings disclosed this week show.
- Lyft, meanwhile, saw many managers trim their stakes.
- Both stocks have sank considerably during their brief time on public exchanges.
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Some of the world’s largest hedge funds snapped up shares of Uber in the second-quarter following the ride-hailing giant’s initial public offering.
But investment managers weren’t feeling as optimistic about the company’s biggest competitor, Lyft, in the second quarter, regulatory filings show.
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