Lyft Stock Is Getting Lifted: What's Going On?
Portfolio Pulse from Erica Kollmann
Lyft, Inc. (NASDAQ:LYFT) shares are up by 18% over the last 30 days and are trading over 10% higher on Monday. The stock has garnered attention from short sellers with 13.6% of available shares being sold short. Nearly 12 million shares of LYFT have been traded on Monday compared to the 100-day average of 17.58 million shares. Lyft's competitor, Uber Technologies, Inc. (NYSE:UBER), has risen more than 35% over the past three months.
July 10, 2023 | 3:30 pm
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Lyft shares are up by 18% over the last 30 days and are trading over 10% higher on Monday. The stock has attracted short sellers with 13.6% of available shares being sold short.
The rise in Lyft's stock price is likely due to positive market sentiment. The interest from short sellers could indicate a potential future price drop, but for now, the trend is upward.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Uber Technologies, Inc. has seen its stock rise more than 35% over the past three months.
Uber's stock rise is mentioned in comparison to Lyft's performance. The significant rise in Uber's stock indicates positive market sentiment towards ride-sharing companies.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50