Capital Street Inter markets Limited is a Global Business Company (GBC1) incorporated and regulated by the Financial Services Commission, Mauritius. It is fully licensed and regulated by the FSC Mauritius, as a Full Services Investment Dealer....
9th Floor, Ebene Tower, 52 Cybercity Ebene, Republic of Mauritius
In the Premarket trading session on Wednesday, Lyft’s stock was trading at 51.23- lower by 5.02% as compared to its previous close.
The ride-hailing company reported its earnings for the fourth quarter of 2019 after the market close on Tuesday. Lyft reported a loss of $1.19 per share for the fourth quarter. It was narrower than the market expectation of a $1.38 loss per share. The ride-hailing company brought in $1.02 billion in revenue for the fourth quarter. The revenue was above the consensus estimates of $984 million. Lyft reported 22.9 million active riders for the fourth quarter. Active riders were above the median forecast of 22.8 million.
The ride-hailing company sees revenue to decline between $4.575 billion and $4.650 billion for the full year 2020. The markets were expecting revenue to fall $4.59 billion for the year. Lyft expects an EBITDA loss of between $450 million and $490 million compared to the median forecast of $503 million for all of 2020. The ride-hailing company in the last month lay-off 2% of its workforce in its sales and marketing department. Stocks of Lyft have gained 25.38% Year to date.
On the technical front, the current price is above the MA5. The current price is above the middle line of the Bollinger Bands but is heading downwards. The stock is expected to trade lower today.
TRADE SUGGESTION- LIMIT SELL AT 51.45 TAKE PROFIT AT 50.65 STOP LOSS AT 51.85