Lyft CEO Announces Launch Of Price Lock Feature, Allowing Users To Cap Fares With Subscription; Reports Prime Time Bookings Decreased In Q2 And Expected To Decline Further In Q3
Portfolio Pulse from Benzinga Newsdesk
Lyft CEO announced a new Price Lock feature that allows users to cap fares with a subscription. The company also reported a decrease in prime time bookings in Q2, with further declines expected in Q3.
August 07, 2024 | 12:52 pm
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Lyft announced a new Price Lock feature to cap fares with a subscription, aiming to attract more users. However, the company reported a decrease in prime time bookings in Q2, with further declines expected in Q3.
The introduction of the Price Lock feature could attract more users and stabilize revenue, but the reported decline in prime time bookings in Q2 and expected further declines in Q3 could offset these gains. The overall short-term impact on Lyft's stock price is neutral.
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