Besides earnings and fundamental news affecting the broad market, Wall Street analyst actions can have a positive or negative impact on an issue's price action. That is certainly the case with LYFT Inc (NASDAQ:LYFT), which is the PreMarket Prep Stock of the Day.
Lyft's New All-Time Low: Whereas the S&P 500 index bottomed in late June, Lyft did not find a bottom until July 13 at $11.96. After putting in another pair of lows at the $12 area, the issue embarked on an impressive rally. That marked a new all-time low for the issue that was substantially below its pandemic low of $14.56.
