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Why Lyft Stock Is Sliding Today

Lyft Inc (NASDAQ: LYFT) shares are trading lower Tuesday. BofA Securities initiated coverage on the stock earlier this morning. 
byAdam Eckert
September 6, 2022
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Lyft Inc (NASDAQ:LYFT) shares are trading lower Tuesday. BofA Securities initiated coverage on the stock earlier this morning. 

BofA Securities analyst Michael McGovern initiated coverage on Lyft with an Underperform rating and announced a $14 price target.

From Last Week: Lyft Faces Multiple Lawsuits From Drivers, Passengers Against Sexual and Physical Assault

Lyft is the second-largest ride-sharing service provider in the U.S. behind Uber Technologies Inc (NYSE:UBER), connecting riders and drivers over the Lyft app.

LYFT Price Action: Lyft has a 52-week high of $46.64 and a 52-week low of $11.96.

The stock was down 5.38% at $13.82 at time of publication.

Photo: courtesy of Lyft.

 
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