slumped 36% on Friday — its biggest-ever decline — after the ride-hailing giant posted weak forward guidance.
"Our Q1 guidance is the result of seasonality and lower prices, including less Prime Time," CFO Elaine Paul said in a statement, referring to the period when rides are more expensive because there are more passengers than Lyft drivers. This didn't stop analysts from raising concerns, with Wedbush Securities downgrading Lyft's stock from outperform to neutral. The firm also lowered its price target from $17 to $13.
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