Lyft’s stock hits intraday low, on track to close at lowest price ever

📆 3/2/2023 9:30 PM
📰 MarketWatch

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Lyft's stock, which has declined five out of the past six days, hit its lowest intraday trading level Thursday and is on track to close at a record low. Less than a month ago, $LYFT reported fourth-quarter results that fell short of expectations.

Lyft Inc.’s stock, which has declined five out of the past six days, hit its lowest intraday trading level Thursday and is on track to close at a record low.

Lyft shares are down 2% to $9.70 in midday trading Thursday. They traded as low as $9.52 Thursday, an all-time low. Their previous record low, reached on Dec. 27, 2022, was $9.87. Several analysts downgraded Lyft’s stock and cut their price targets after the company’s earnings call, with Wedbush analyst Daniel Ives calling it a “top 3 worst call we have ever heard.”

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