NIA has just purchased a position in HyreCar (HYRE) a few minutes ago. We just discovered the company a few days ago and have been doing a lot of research. We consider HYRE to be one of the best ways to capitalize on this month's IPO of Lyft and next month's IPO of Uber. HYRE's revenue last quarter increased by 224.3% on a year-over-year basis to $2.7 million.
HYRE's latest quarterly revenue of $2.7 million is equal to $10.8 million on an annualized basis and with HYRE's massive revenue growth where it is growing much faster than Lyft and Uber, we believe it deserves a valuation of 15X annualized revenue for a market cap of $162 million. With only 11.708 million shares outstanding, this will value HYRE at $13.83 per share.
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. NIA has purchased 9,000 shares of HYRE in the open market and intends to sell these shares for a profit and can sell them at any time. NIA can also add to its position at any time. Never make investment decisions based on anything NIA says. This message is meant for informational and educational purposes only and does not provide investment advice.