In today's video, what would you do if Lyft gave you a thousand dollars and they gave you the option to buy pre-IPO stock in their company? Well that happened to me and in this video I'm going to break it down for you and stick around because at the end of the video I'm going to share with you exactly what I did and how I stand right now. It is Jay Crater with the ride share guy and in fact Lyft did send me an email and they said because I had done 10,000 rides and I was a driver in good standing they were going to give me a thousand dollars and if I wanted to I could buy stock in their company before the IPO which was last Friday. So I thought hmm what should I do? So in the one hand I was really grateful that I got a thousand dollars but let's break this offer down. So Lyft gave me this bonus of a thousand dollars for doing 10,000 rides but they also had another bonus if you did 20,000 rides you got 10,000 dollars 10 times the amount. So someone like me that has nearly 15,000 rides which means I'm halfway between 1,000 and 10,000 still only get a thousand. So I'm grateful that I got a thousand dollars don't get me wrong but I wish Lyft would have done a tiered program so that drivers who did 8,000 9,000 12,000 18,000 could get paid proportionally rather than it's either a thousand or 10,000. Now of course Lyft it's a brilliant PR move they didn't have to pay out too much money because God knows there aren't too many people that have 10,000 let alone 20,000 rides under their belt specifically and only for Lyft. So they got to say hey world we're honoring the loyalty of our drivers and we're giving 10,000 dollars bonuses but in fact there aren't many people who got it. So I'm grateful yes and I think it could have been it that done a lot more of fair to all drivers. So what would you do? Invest or just take the money and run. Now most people I've heard of just took the money. My thought process was it's a thousand dollars. It wasn't money I was expecting so why not throw it into the market. But then I thought well what have what have lived tanks and my thousand dollars suddenly becomes only 500 dollars right that's a concern. And then I heard that there was this lock up period which means that you get the stock but you can't sell it for a certain amount of time. So I started to get some emails from Fidelity and they said that in fact there would be a 180 day lock up period for everybody with the exception of the drivers. So I thought well that means I could sell it right away maybe it'll go up fast and stay up for a while and then drop right and then I could at least sell it when it got high. So I decided to go for it. Let's do it. Let's buy the stock. Now the pricing of the stock was an interesting thing. So I got an email from Fidelity and they told me that I needed to indicate my interest once they set the price. And the current price at first was between 62 and 68 dollars a share. Then the next day I got an email that said it had been bumped up to 70 to 72 dollars a share. Then I got a final email that said it was 72 dollars locked in and I needed to commit to buying my shares. And I could only buy up to a thousand dollars. So I could only get 13 shares and stay under my thousand dollar limit. So it would have been better if I could have bought it at 62 and it ended up I had to buy it at 72. So now what will I do with my stock? So when the stock went public on Friday it did go up and went up to about 86. And I had heard from Jim Kramer on CNBC that he thought the stock would get all the way up to 100. So that was in my mind what I was thinking was let's let it get to 100 and then then I'll sell. But then what happened was at the end of the day on the first day it dropped down to I think 79. And then on Monday it just went down to 66. And as you can see in this graph it's now it's at around 69. And that was yesterday. Today it's still around 69. It got up to about 71 and then it went to 69 and you know it's just going to kind of hover around there. So what I did do is I put in what's called a stop loss order. So that means I said it at 60 dollars. So if the stock goes all the way to 60 then I say sell. Sell sell sell. That'll cut my losses right. So if I have 13 shares and I'm losing 12 dollars a share I haven't done the math but it's about 150 dollars loss. So I'm protected so that's the most I could lose. And at this point because the stock market has been kind of lukewarm to lift right. I think if it gets back to 75 I will sell and reap reap like 100 dollars of earnings or maybe it's only $550 worth of extra on top of my thousand. But frankly it would be just great to get my thousand back and be done with it. So in summary I did it. I bought the stock. I really don't think lift long term is going to is a great investment because they haven't figured out how to make money. Yet they're quite a bit different position than Uber. Uber is in so much more of the world. There's so much bigger they have Uber Eats which is making money. They're further along with the autonomous vehicles. I just think Uber is an institution that will will find ways to make money. I'm not sure. So as soon as I can I'm going to let my stock go but it's been great fun. And I've been able to do a lot of TV interviews and radio interviews. People have wanted to ask me you know as a driver what did I think about this and how was it going to go. So it's been a great educational experience and well worth whatever money I might lose. From my bonus which wasn't even my money to start with in the first place. I hope you enjoyed this inside look in the stock market and the lift IPO. This is J.Creator with the right share guy. Thank you for watching. 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