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Lyft CEO says ‘My bad’ after earnings typo sends stock up 60% (www.theguardian.com)

submitted 10 months ago by [email protected] to c/nottheonion

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[–] [email protected] 13 points 10 months ago (1 children)

For the first offense. Each subsequent offense should have the percentage double.

[–] [email protected] 4 points 10 months ago

This could correct itself. Now the company’s financial reports are unreliable, and the uncertainty alone should drop the value of their stock. Risk has a negative monetary value, and these financial reports are now a source of risk.