Shares of Lyft (LYFT) fell Wednesday after a "clerical error" in their earnings results caused the stock to rally 60% in after-hours trading on Tuesday. Wedbush Securities Managing Director and Senior Equity Analyst Dan Ives says the mistake was "a black eye for Lyft," overshadowing the company's actual progress.
Ives tells Yahoo Finance Live the error showcased "another credibility issue" for Lyft despite efforts to boost growth. As Lyft aims to expand, earnings showed it remains the "little brother of Uber (UBER)" struggling to increase margins, per Ives.
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