Why Lyft Stock Was Soaring Today

Shares of Lyft (NASDAQ: LYFT) jumped today, seemingly on rumors circulating about a potential buyout on Twitter and StockTwits, with GM as a possible buyer. The stock may also have been reacting favorably to New York's decision to end its mask mandate on transportation, which could help give the ridesharing operator a shot in the arm.

Lyft stock finished the day up 16.9%.

Rumors about the buyout were unsubstantiated and didn't appear in any news source, but on Twitter and StockTwits, several users were discussing the possibility of a takeover by companies including General Motors, DoorDash and Ford.

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Source Fool.com