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Why Lyft Stock Lost 17% in September

TheMotleyFool

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Shares of Lyft (NASDAQ: LYFT) continued to struggle last month as they gave up another 17%, according to data from S&P Global Market Intelligence. There was no specific news driving the stock lower. Rather, it slipped on general concerns about IPO stocks following the busted We Company IPO, along with worries about the general regulatory environment the company faces after California passed a law that will force Lyft and Uber to classify contractors as employees.

As the chart below shows, the stock continued to be volatile through the month, finishing down once again.