Lyft Inc shares sank 20 per cent on Tuesday on signs that competition from bigger rival Uber was stalling user growth and eating into the market share of the ride-hailing firm.
"We believe Uber has done a much better job at rebuilding driver supply, likely leaving Lyft with a structurally smaller share of the market than it had pre-pandemic," Atlantic Equities analyst James Cordwell said. Lyft's stock was at $11.51 in premarket trading. It has lost more than two-thirds of its value this year, far more than Uber's 34 per cent decline.
Abbiamo riassunto questa notizia in modo che tu possa leggerla velocemente. Se sei interessato alla notizia puoi leggere il testo completo qui. Leggi di più: