Why Lyft Stock Was Falling Today
Shares of Lyft (NASDAQ: LYFT) were moving in reverse today after better-than-expected results weren't enough to keep the stock's momentum going from earlier in the week. A number of factors seemed to weigh on the stock today, including a middling outlook for 2020, a failure to match Uber in its profitability guidance, and the fact that the stock had already delivered significant gains this year.
Shares were down 8.9% as of 11:03 a.m. EDT, after falling as much as 10% earlier in the session.
Image source: Lyft.
Source Fool.com
