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Why Lyft Stock Was Tumbling Today

TheMotleyFool

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Shares of Lyft (NASDAQ: LYFT) were taking a dive today after the ridesharing company issued a disappointing third-quarter earnings report, posting a wide loss on the bottom line and showing signs that it was losing market share to larger rival Uber Technologies.

As of 10:35 a.m. ET, the stock was down 20.3%.

Lyft reported solid revenue growth in the third quarter as the top line rose 22% to $1.05 billion, slightly below the consensus at $1.06 billion.

Source Fool.com

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