LYFT Stock Jumps 35% Despite False Guidance Scare
LYFTLyft(LYFT) InvestorPlace·2024-02-14 23:48

Shares in ride-sharing company Lyft (NASDAQ:LYFT) are rising 35% so far today despite the firm making a big mistake on its forward guidance. LYFT stock briefly jumped 60% after a press release on earnings goofed on describing future margin expansion. The original release misstated that margins would rise 5%. However, Lyft is actually projecting margins to rise just 0.5%. The company and Chief Financial Officer Erin Brewer called the mistake a typo. As a result, $2 billion in market capitalization had to be ...