What Lyft's Big Typo Teaches Investors About New Technologies
LYFTLyft(LYFT) Forbes·2024-02-16 22:46

The interplay of finance and technology will lead to inevitable ups and downs for investors. getty Lyft’s LYFT fourth quarter earnings report contained an embarrassing typo earlier this week, accidentally tacking on an extra zero to one of its key financial forecasts. The company said a profitability metric would rise 500 basis points rather than 50. The blunder lit trading algorithms ablaze, sending Lyft’s stock price surging over 60% in after-hours trading. Within a day, cooler heads prevailed and shares ...