Will investors lift Lyft?

Investors are jumping into the market again and some say you must buy the dip. Can investors lift the Lyft stock to a higher level? Lyft is expected to report earnings on Wednesday 8 after market close.

The company is scheduled to announce Q2 earnings results on Wednesday and EPS Estimate is -$1,66 and the consensus Revenue Estimate is $809,64M. The history of the company is short and so are the company itself. Lyft was founded 7 years ago as Zimride in San Fransico, California.

General Motors is one of the biggest owners with a 6,6% stake but the biggest owner is Rakuten with a 11% stake. Rakuten is a Japanese electronic commerce and internet company based in Tokyo. Its e-commerce platform Rakuten Ichiba is the largest e-commerce site in Japan and among the world`s largest by sales.

Lyft are operating in 640 cities in the U.S and 9 cities in Canada. It develops, markets, and operates the Lyft mobile app, offering car rides, scooters, and a bicycle-sharing system. Lyft is the second-largest TNC with a 28% markets share in the U.S, according to Second Measure.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Shiny bull. The author has made every effort to ensure accuracy of information provided; however, neither Shiny bull nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Shiny bull and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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