When it comes to consumer internet stocks, investors might be eyeing (NASDAQ: LYFT) as a potential buying opportunity right now.

Its revenue growth accelerated in the most recent quarter, and it enjoys a strong competitive advantage thanks to network effects. And its stock, which is 80% below its peak price, currently trades at an affordable price-to-sales ratio of 1.3.

These might appear to be compelling arguments for scooping up shares of Lyft, but this would be the wrong move because its chief rival is the better stock to buy in 2024.

Continue reading

Source Fool.com