wall street

Lyft went public this week, and on shares, it was worth $23 Billion. Leo thinks that Wall Street is banking on a future when these ride-sharing companies will have driverless vehicles. Until then, Lyft has to share the fare with its drivers and even subsidize nearly 40% of what cabs would normally charge. But once driverless cars are the norm, Wall Street believes the profits will come. But the real question is, would you get into a driverless car and trust that the computer will get you to your destination safely? Especially with other human drivers on the road with it?

Apple announced this week that it would stop reporting quarterly sales reports during their earnings calls. They will cease letting investors know how many iPads, iPhones, MacBooks, etc. leaving them to simply guess. Leo says that how well a business is doing is directly tied to their sales report, and it may be that since the iPhone grew 0% this quarter, that Apple is concerned how reporting sales affects their stock prices. But Apple also derives a great percentage of their incoming from services.

This week, Apple's stock rose to the point where Apple became the first company on Wall Street worth a trillion dollars. Leo says while that makes for a great headline, it's really a dubious barometer, because Apple has all the money it's gotten from stock. Any further rising and lowering of the stock is beneficial for those who buy and sell it. But what the value does indicate, is that when Apple offers stock to talent as a perk, it's worth far more to them. And engineers are thinking about that. Still, Apple is the first to do it, so it's historic.

Twitter purged over a million bots and fake accounts, and Wall Street reacted by a 20% loss in Twitter's stock value. The reason? The Social Media giant is contracting, not growing. Or, in reality, the perception of Twitter's actual active users is far less than Wall Street likes and as such, many investors sold their stock.

Read the full story at cnbc.com.

Twitter banned a ton of fake accounts this quarter, and as a result, not only lost 1 million active users, but also saw their stock take a dump. Even though they made $20 million in the process. But Wall Street says that Twitter isn't growing, and as a result, the value declined. Even Facebook took a hit this week, in the single largest stock loss in Wall Street trading history. $120 Billion in lost value. Mark Zuckerberg lost over half his personal wealth. But Leo says he'll likely bounce back over time.