"I think it's going to be a big challenge for Lyft. Right now, ridership is down, and even as we reopen, people are scared to get into Ubers and Lyfts right now and that fear is going to keep those stocks at bay," Sanchez told CNBC's "Lyft is expected to post a loss of $1.07 a share for the three months ended June, according to FactSet, worse than its loss of 68 cents a share a year earlier.
Bookings in Uber's ride-sharing segment declined by 73% in its recent quarter from a year earlier. Overall revenue fell 29%. "We can see that both of these ride-share companies have a series of lower highs in place, and, to me, lower highs mean that every time there's a rally in the name, the bulls are showing less enthusiasm than the prior rally," O'Hara said during the same "Trading Nation" segment.
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