LYFT breaks the downtrend

05 August 2022 375
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After publishing its Q1 2022 report and lowering Q2 guidance, LYFT's stock price gapped down and has been moving in a descending channel for three months. On August 2, a positive report from Uber helped LYFT's stock break the bearish trend - it gained 16%. Yesterday LYFT released its own Q2 results, which beat analysts' expectations. The company announced record EBITDA and upcoming plans to cut costs. The security may continue to grow further - the company seeks to make the service more convenient for drivers and diversify its revenue streams, and the number of its customers continues to grow steadily amid the recovery of activity after the pandemic.

This content is for informational purposes only and is not intended to be investing advice.

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