Lyft Stock Upgraded: What You Need to Know
Every day, Wall Street analysts upgrade some stocks, downgrade others, and "initiate coverage" on a few more. But do these analysts even know what they're talking about? Today, we're taking one high-profile Wall Street pick and putting it under the microscope...
Investors in Lyft (NASDAQ: LYFT) have had a rough five months. Since going public in March, shares are down 30% from their $72 IPO price. But there's good news, too.
Since that IPO took place, the "quiet period" that prevented underwriters from speaking in support of the stock has expired. Last week, TheFly.com reported that a wave of selling that hit Lyft shares after its post-IPO lock-up period expired has also passed, easing selling pressure.
Source Fool.com