Diamonds and Dogs
Lululemon Athletica (LULU) keeps stretching higher. The athletic apparel stock is up 6% to new highs following better than expected earnings. The company easily beat expectations as rose 22% to $883 million. Lululemon has done a good job of expanding into business into men's' apparel up 19% growth and China tariffs aren't bothering the company as Chinese sales rose 68%. A number of upgrades with price targets as high as $225 a share.
Lyft (LYFT) has a problem.The ride-sharing stock is down 4% today and down over 50% from the highs set on its IPO date back in April. A lawsuit filed yesterday in San Francisco Superior Court states 14 women from across the U.S. say they were sexually assaulted by their Lyft driver between 2018 and 2019. The crimes, they say, occurred because of lax hiring standards and a failure to warn passengers about those standards. The lawsuit also claims that in 2015 and 2016, Lyft received close to 100 reports of its drivers sexually assaulting passengers — from a single U.S. state.