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Lyft: It Keeps Getting Worse

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California continues to move forward on AB 5 that will turn contractors into employees.
Lyft already has a slim profit margin.
Avoid the stock until the company formulates a business model around generating solid operating margins.
My previous work already focused on the lack of a margin of safety in Lyft (LYFT) and the news continues to get worse. The company faces legislative issues pressuring the gig work concept while the business growth is apparently decelerating at a very fast clip. The stock doesn't appear to have reached a low yet.
Read the full article on Seeking Alpha. 
More commentary - WhoTrades 
Disclosure: No position mentioned. Please review the disclaimer page for more details. 

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