Lyft, Inc. (LYFT, Financial) experienced a notable stock price increase of 5.02%, reaching $14.34 per share with a trading volume of 8.84696 million shares. The company's recent financial report showed revenue of $1.523 billion and a net loss of $12.43 million, resulting in an earnings per share of -$0.03. The gross profit stood at $552 million. Among the 50 institutions rating the stock, 30% recommend buying, while 70% suggest holding, with no sell recommendations.
Within the software services industry, which saw an overall increase of 0.61%, related stocks like Treasure Global Inc., Cerence Inc., and Aeye Inc C/Wts 30/09/2027 (To Pur Com) showed significant gains. Notably active stocks included Treasure Global Inc., Mobile Finance, and Cerence Inc., with turnover rates of 1004.71%, 569.19%, and 277.15% respectively. Stocks with notable price fluctuations were Treasure Global Inc., Cerence Inc., and Banzai International Inc C/Wts 14/12/2028 (To Pur Com), with amplitudes of 193.14%, 119.80%, and 86.27% respectively.
Lyft, the second-largest ride-hailing service in the U.S. and Canada, connects passengers and drivers via its app. Since its founding in 2013 and public listing in 2019, Lyft has expanded into bike and scooter sharing, offering multi-modal transportation options.
Speculation about Amazon (AMZN) potentially acquiring Lyft has influenced the stock's recent movement. This acquisition could enhance Amazon's autonomous vehicle ambitions, positioning it to compete more effectively with Tesla (TSLA) and Alphabet's (GOOGL) Waymo, leveraging Lyft's network of 24 million active users.
