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Lyft shares hit 52-week high after accidently including an extra zero to one of its profit margins in an earnings statement (www.wsj.com)

submitted 9 months ago by L4s@lemmy.world to c/technology@lemmy.world

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Lyft shares hit 52-week high after accidently including an extra zero to one of its profit margins in an earnings statement::undefined

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[–] stoy@lemmy.zip 68 points 9 months ago (1 children)

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.

[–] MimicJar@lemmy.world 45 points 9 months ago (3 children)

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.

[–] sanguine_artichoke@midwest.social 20 points 9 months ago

Some dolt told me that in hospital billing one time. I had two different insurances that said they’d pay. They failed to charge me. They were giving me 30 days before sending it to collections. I have them the insurance numbers twice. I called on day 27 and asked what are you guys doing? The guy said “the computer is going to send it to collections in a few days… it won’t let me do anything!” as if that makes any sense.

[–] Gormadt@lemmy.blahaj.zone 7 points 9 months ago

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

[–] ABCDE@lemmy.world 4 points 9 months ago

"Computer says no".