Diamonds and Dogs

5/8/24

Lyft (LYFT) gets a lift from earnings. The ride-sharing company rose 7% after beating estimates as sales rose 30.0% to $1.3 billion. Part of the improvement was from lower pricing to gain market share as cancellations were down 50% verse a year ago.

Uber (UBER) going in the wrong direction. The other rival ride-sharing stock fell 5% after the ride-share company posted a surprising net loss and weaker-than-expected bookings revenue. Both companies are facing Tesla and their roto-taxis going forward.

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