Where Will Lyft Be in 1 Year?
The rookie season for ridesharing stocks hasn't gone according to plan. Shares of Uber Technologies (NYSE: UBER) and the smaller but faster-growing Lyft (NASDAQ: LYFT) are still trading below their IPO prices, but things might not always stay that way.
Lyft is living up to its end of the bargain when it comes to growth. Revenue soared 95% in the first quarter, and we'll find out soon how the second quarter played out as it reports in two weeks. The losses are substantial for both Uber and Lyft, but the market ultimately rewards popular concepts. Folks are relying more on car-hailing services than ever before, and it wouldn't be a surprise to see Lyft trading comfortably above its IPO price a year from now.
Image source: Lyft.
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