Eric DeLamarter and Brandon Carnovale of Half Moon Capital presented their investment thesis on Lyft (Nasdaq: LYFT) at Wide-Moat Investing Summit 2025.
Thesis Summary
Lyft is gaining market share following the implementation of various initiatives by its newer CEO, David Risher. Over the last year, Lyft has emerged as a price winner with superior ETAs. Risher has led a successful turnaround to stabilize US Mobility and now has the foundation to expand into new services and geographies. Eric and Brandon expect Lyft will win a Waymo partnership in the nearer term or be acquired by Amazon.
LYFT’s valuation discounts these favorable developments and assumes a significant risk of disintermediation. However, Eric and Brandon see autonomous vehicle companies pursuing a partnership approach, which would be net beneficial to Lyft. The above events, among other catalysts, should result in upside for the stock.
A small number of seats at our event of the year, Latticework 2025, will be made available soon to our Substack subscribers. Stay tuned!
Latticework 2025 will be held in New York City on October 7th. In fireside chats with audience participation, the summit will explore intelligent investing in a rapidly changing world. Keynote speakers include:
Chris Bloomstran, President of Semper Augustus Investments Group
Tom Gayner, CEO of Markel and Director of The Coca-Cola Company
Saurabh Madaan, Managing Member of Manveen Asset Management
Bob Robotti, President and CIO of Robotti & Company Advisors
Tom Russo, Managing Member of Gardner Russo & Quinn
Will Thomson, Managing Partner of Massif Capital
Christopher Tsai, President of Tsai Capital Corporation
Ed Wachenheim III, Chairman of Greenhaven Associates
Disclaimer
Wide-Moat Investing Summit 2025 was held from June 24 through July 9, 2025. The content of this website is not an offer to sell or the solicitation of an offer to buy any security. The content is distributed for informational purposes only and should not be construed as investment advice or a recommendation to sell or buy any security or other investment, or undertake any investment strategy. There are no warranties, expressed or implied, as to the accuracy, completeness, or results obtained from any information set forth on this website. BeyondProxy’s officers, directors, employees, and/or contributing authors may have positions in and may, from time to time, make purchases or sales of the securities or other investments discussed or evaluated herein.
Slides
Let’s listen to the presentation and Q&A and look over the transcript.
