Why Lyft Stock Was Climbing Today
Shares of Lyft (NASDAQ: LYFT) were moving higher today in sympathy with a strong report from rival Uber Technologies (NYSE: UBER), which seemed to boost expectations for Lyft's third-quarter earnings report, which is due out next week.
As of 11:58 a.m. ET, the stock was up 6.1%, while Uber had gained 11.4%.
Uber said gross bookings jumped 26% in the quarter, or 32% in constant currency, while revenue jumped 72%, or 81% constant currency, aided by its acquisition of logistics management company Transplace and a change in its U.K. mobility business model.
Source Fool.com
