Lyft just ended a brutal week with the stock down nearly 20% since Monday.
Shares of Lyft slid 19.55% in the past week as investors finally got their first look inside rival Uber's business. The stock closed in the negative four out of five days this week and dropped about $3 billion in market capitalization.
Lyft sank 1.8% on Friday, a day after Uber released its S-1 where it reported 2018 revenue of $11.27 billion compared with Lyft's $2.2 billion. Uber said it had a net profit of $997 million in 2018, though it has a loss of $1.85 billion on an adjusted EBITDA basis. Lyft reported a loss of $911 million in its public filing.
Wedbush Securities analysts gave Lyft a neutral rating on Friday with a 12-month price target of $80, saying concern it has heard from investors prior to Uber's S-1 were not eased much now that it's public.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Lyft is having a brutal week with the stock down 20% since MondayLyft is on track to close the week with four out of five days in the negative.
Read more »
Sudan opposition says around 20 killed since start of sit-inThe opposition said dozens more have been injured during the latest demonstration the latest in nearly four months of anti-government protests.
Read more »
NHL notebook: Bettman suspends D Voynov for 2019-20Defenseman Slava Voynov has been suspended for the 2019-20 season due to 'u...
Read more »
Coachella at 20: How Beyoncé forever changed the desert festivalWith a Netflix documentary of the performance on the horizon, Beyoncé’ is flexing her muscle, drawing attention from Coachella performers trying to live up to what she did last time. Nobody on the bill is likely to succeed.
Read more »
Limo company operator indicted in crash that killed 20 people in upstate New YorkNauman Hussain was indicted by a grand jury on 20 counts of second-degree manslaughter and 20 counts of criminally negligent homicide, according to an official.
Read more »
Alphabet's investment in Uber has multiplied by 20-fold since 2013Google's venture arm made an uncharacteristically large bet on Uber in 2013, a deal that's turning into a huge windfall for the search giant.
Read more »