Both Uber and Lyft have been publicly-traded companies since their initial public offerings (IPO) in 2019. While both company stocks are down from their IPO offerings, Uber’s share performance is beginning to stabilize. The same cannot be said for its American archrival Lyft, whose stock fell more than 35% today (👀), on the back of disappointing financial results and guidance.

Lyft’s stock price has declined precipitously over the last few years.

📉 Down 80%+ since IPO
📉 Down 70%+ in last year
📉 Down 5%+ this year

While the overall stock market and tech-centric NASDAQ had a rough 2022, Lyft’s performance is notably troubling. In a recent AutoMarketplace newsletter we briefly explore why Lyft’s stock is likely struggling, what the future may hold for the #2 NYC for-hire transport base, and why its NYC business is more critical than many think.

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#lyft #uber #nyctaxi

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