The stock of Lyft, Inc. (NASDAQ:LYFT) reached all time low today, Apr, 14 and still has $55.71 target or 7.00 % below today’s $59.90 share price. This indicates more downside for the $20.22 billion company. This technical setup was reported by Barchart.com. If the $55.71 PT is reached, the company will be worth $1.42B less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only.
The stock decreased 1.83% or $1.11 during the last trading session, reaching $59.9. About 13.79M shares traded. Lyft, Inc. (NASDAQ:LYFT) has 0.00% since April 14, 2018 and is . It has underperformed by 4.37% the S&P500.
More notable recent Lyft, Inc. (NASDAQ:LYFT) news were published by: Cnbc.com which released: “Cramer: Investor apathy for Lyft is a big positive for this bull market – CNBC” on April 02, 2019, also Nasdaq.com with their article: “Consumer Sector Update for 04/05/2019: LYFT,VIPS,SAM – Nasdaq” published on April 05, 2019, Seekingalpha.com published: “Lyft accuses Morgan Stanley of supporting short-selling – Seeking Alpha” on April 06, 2019. More interesting news about Lyft, Inc. (NASDAQ:LYFT) were released by: Nasdaq.com and their article: “Consumer Sector Update for 04/01/2019: TTM,MLCO,LYFT – Nasdaq” published on April 01, 2019 as well as Benzinga.com‘s news article titled: “5 Reasons Not To Short Lyft (NASDAQ: LYFT), According To Activist Short Seller Citron Research – Benzinga” with publication date: April 05, 2019.
Lyft, Inc. operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. The company has market cap of $20.22 billion. It provides Ridesharing Marketplace, which facilitates lead generation, billing and settlement, support, and related activities to enable drivers to provide their transportation services to riders. It currently has negative earnings. The firm also offers a network of shared bikes and scooters in various cities to address the needs of riders for shorter routes; Express Drive program, a flexible car rentals program which connects drivers who need access to a car with third-party rental car companies; and concierge for organizations to manage the transportation needs of their clients and employees.