Did Jim Cramer Get These 10 Predictions Right or Wrong?

9. Lyft, Inc. (NASDAQ:LYFT)

Number of Hedge Fund Holders: 55

Lyft, Inc. (NASDAQ:LYFT) was brought up right after Uber in that segment, with Cramer comparing their respective earnings reports and highlighting Lyft’s surprising strength under its new CEO. He viewed it as a turnaround play and said:

“They had another solid quarter under newest CEO David Risher. […] Looks like they’re finally on a more competitive footing. […] Lyft’s gross bookings growth matched Uber’s in the first quarter, and Lyft’s guidance for second quarter bookings implies they’ll match Uber yet again. […] Lyft reported a modest EBITDA and surprisingly positive free cash flow for the second quarter in a row. Good guidance on the profitability front for the current quarter too. […] I like it. I think he’s right. […] Lyft mostly confirmed its previous outlook — except they raised the free cash flow guidance pretty substantially. […] Lyft continued to make progress towards the goal of becoming a profitable growth story, which is what Risher’s been aiming for since he took the reins about a year ago. […] The results were good enough to send the stock up 7.1% last Wednesday. […] I have been really impressed with what Risher’s done in his first year on the job, and the stock definitely deserved to rally in response to the strong quarter — especially since it looks like Lyft has stemmed the share loss to Uber and done so without compromising profitability. […] I bet the stock can work higher as long as those narratives remain in place. […] In fact, as long as Risher continues to turn things around, I actually wouldn’t be surprised if Lyft even became a takeover target if the stock stays down here while the big turn comes.”

That narrative never turned into market gains, as Lyft ended the year almost flat, down 0.29%.

Lyft, Inc. (NASDAQ:LYFT) is a U.S.-based ride-sharing company that connects passengers with drivers via its mobile app, focusing on transportation and bike/scooter rentals. Despite not living up to the expectations, Cramer mentioned the stock again last September, saying:

“What am I missing with Lyft here? Okay, it got overheated. I think people felt that it was a true duopoly like nothing could go wrong. But I’m with you. I think Lyft, Inc. (NASDAQ:LYFT) should be bought here because it’s now inexpensive, believe it or not, on the numbers.”