Marblegate, via a publicly-listed investment holding company, appears to be preparing to list a significant part of of its NYC taxi medallion-related holdings
I pray they bought really low because that industry has been deeply affected by rideshare and COVID. I have doubts about the taxi industries compete recovery, much less any semblance of surpassing pre-COVID ridership. Anecdotally, I see many yellow taxis parked and they don’t move. I wouldn’t be an investor in the taxi industry as I see it as a somewhat dying industry that will have an eventual leveling off but at a lower level. Coupled with the recent uneven increase in fares between Uber/Lyft and yellow taxis with yellow taxis being given a higher earnings boost, it’s possible that may also detrimentally affect taxi ridership. It’s wait and see at this point but I don’t hold out hope.
My biggest mistake was not buying a medallion during the pandemic. I see the cabs made a comeback. Wall street always has a unique way to bring old industry back to life.
I pray they bought really low because that industry has been deeply affected by rideshare and COVID. I have doubts about the taxi industries compete recovery, much less any semblance of surpassing pre-COVID ridership. Anecdotally, I see many yellow taxis parked and they don’t move. I wouldn’t be an investor in the taxi industry as I see it as a somewhat dying industry that will have an eventual leveling off but at a lower level. Coupled with the recent uneven increase in fares between Uber/Lyft and yellow taxis with yellow taxis being given a higher earnings boost, it’s possible that may also detrimentally affect taxi ridership. It’s wait and see at this point but I don’t hold out hope.
The dynamics are very interesting; let us definitely pay attention!
My biggest mistake was not buying a medallion during the pandemic. I see the cabs made a comeback. Wall street always has a unique way to bring old industry back to life.
why not just buy Medallion Financial which is already publicly traded?