"Negative earnings are not typically associated with an investment-grade company, but nothing about this is typical. It sits in a category of its own."
A company press release Tuesday that erroneously projected a measure of earnings margin to expand by 500 basis points (bps). In reality, Lyft expects margins to grow by 50 bps.
"I've never seen inventory surges like this in my career, and I've been around for a long time," said Cathie Wood, the head of Ark Investment Management.
