Why Lyft Stock Was Soaring Today
Shares of Lyft (NASDAQ: LYFT) jumped today, seemingly on rumors circulating about a potential buyout on Twitter and StockTwits, with GM as a possible buyer. The stock may also have been reacting favorably to New York's decision to end its mask mandate on transportation, which could help give the ridesharing operator a shot in the arm.
Lyft stock finished the day up 16.9%.
Rumors about the buyout were unsubstantiated and didn't appear in any news source, but on Twitter and StockTwits, several users were discussing the possibility of a takeover by companies including General Motors, DoorDash and Ford.
Source Fool.com
