Lyft Stock Falls 15% After Weak Results
Lyft's stock fell 15% this week. The ride-sharing company posted weak fourth-quarter results.
Rider numbers were lower than expected. The company also gave a mixed outlook for the future. Investors reacted negatively to the news.
Klear Note — Lyft is a ride-sharing company that competes with Uber. When companies report weak results, investors sell stock, causing prices to fall.
Key Terms 2
- fourth-quarter results Financial performance report for the last three months of the year.
- outlook A company's prediction about its future performance and earnings.