Why Lyft Stock Jumped 36% in September

Shares of Lyft (NASDAQ: LYFT) were moving higher last month after the No. 2 ride-hailing company took some significant steps in offering an autonomous vehicle service with two key partnerships.

Additionally, earlier momentum in the stock seemed to carry over to September as Wall Street's perception of the business's prospects has improved. Lyft earned a number of bullish notes and price target hikes last month in response to things like its acquisition of Freenow, improving financials, and innovative products like Lyft Silver.

According to data from S&P Global Market Intelligence, the stock finished the month up 36%. As you can see from the chart below, shares surged in the first half of the month before levelling off later.

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Source Fool.com