Lyft Withdraws Guidance as COVID-19 Decimates Ridesharing
Just a week after ridesharing leader Uber (NYSE: UBER) withdrew its guidance, Lyft (NASDAQ: LYFT) has followed suit in suspending its forecast due to ongoing uncertainty surrounding the COVID-19 pandemic. The crisis has all but obliterated demand in the ride-hailing industry as people stay home, which has caused both companies to introduce alternative services that primarily transport physical goods instead of people.
Here's what investors need to know.
Source Fool.com