Lyft stock is getting punished, down more than 35% after weak guidance
Publishing timestamp: 2023-02-10 12:31:21
Summary
Shares of Lyft fell significantly after the company reported guidance for its first quarter of 2023 that was lower than analyst expectations. Lyft's CFO attributed the guidance to "seasonality and lower prices". In contrast, Uber posted its strongest quarter ever in its earnings report earlier in the week, sending its stock up. Lyft was hit with several downgrades from JPMorgan, KeyBanc, Loop Capital and Truist.
Sentiment: NEGATIVE
Keywords: jpmorgan chase & co, lyft inc, markets, business news, uber technologies inc, mobile, breaking news: technology, technology,
Source: https://www.cnbc.com/2023/02/10/lyft-stock-down-more-than-30percent-.html