Lyft shares hit 52-week high after accidently including an extra zero to one of its profit margins in an earnings statement
wsj.com
Lyft shares hit 52-week high after accidently including an extra zero to one of its profit margins in an earnings statement::undefined
This is another riminder that company share values don't need to reflect the actual company value.
I am sure the error was caught before any executives had time to sell shares.
In the trailing off part of the article,
"Many stock trades are done by computers, reacting in fractions of seconds to new information. The inflated margin likely triggered a buying frenzy before most people could digest the numbers."
Which, if true in this case, is even more funny to think about. Not only does the share values not reflect actually company value, but that value isn't even what a person thinks it is.
I'm reminded of the helpless employee who says "The computer won't let me do it." The enigma of the computer that is off doing it's own thing.
So often at work it's like I'm fighting our computers
I work in the freight industry, I shouldn't have to fight with our software for it to tell me where a pallet is
this is how you "accidentally" liquidate shorts.
If you or I pull an ‘oopsie’ and underreport your income by a factor of ten, you’d be in jail
Orphan crushing machine must continue so Line Goes Up
Lyft shares hit 52-week high after…
fraud
"accidentally"