Why Lyft Stock Rose 15% in August
Shares of Lyft (NASDAQ: LYFT) were moving higher last month after the No. 2 ride-sharing company delivered a solid second-quarter earnings report and benefited from increased expectations that interest rates would soon go down.
Lyft also received generally positive commentary from Wall Street analysts during the quarter, a response to the momentum building in the business. According to S&P Global Market Intelligence, the stock gained 15% in August.
As you can see from the chart, it was a volatile month for the company, but Lyft took several steps higher during August.
Source Fool.com
LYFT Inc Aktie
11,20 €
-0,89 %
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