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 Stock
€14.60
1.390%
The stock is one of the favorites of our community with 28 Buy predictions and 3 Sell predictions.
With a target price of 20 € there is a positive potential of 36.99% for LYFT Inc compared to the current price of 14.6 €.
