In an interview with Real Vision, IPO Edge Editor-in-Chief John Jannarone looks back on two winning stock calls he made earlier this year and argues for the next best moves. First, he explains why he was bearish on Lyft before the IPO priced: The company had no clear focus on profitability, even several years out; Competitive threats were fierce for a company with little brand power; And investors may have been ignoring a looming insurance liability that continues to receive little attention. He suggested a target price of $50 which was reached much sooner than he thought but now advises to step out of the stock entirely.
Jannarone also explained that he’s still bullish on fintech company Repay, which is going public via a merger with Thunder Bridge Acquisition, a special purpose acquisition company, or SPAC. He initially suggested buying the warrants on Thunder Bridge when they traded around $0.80 each. They have since more-than doubled to $1.75 but he believes there is room to run.