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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/[email protected]

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[–] [email protected] 32 points 10 months ago (2 children)

He should have to pay a fine equal to twice what he would have earned from the stock increasing. Even if the stock plummets.

Don't fuck up your financial statements, dude.

[–] [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.

[–] Kecessa 11 points 10 months ago* (last edited 10 months ago)

He hasn't earned anything unless he sold while it's up and that would be public information.