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Mangeet Kaur Bouns

Should You Kick Lyft Stock to the Curb in 2023?

Lyft Doug Anmuth Mangeet Kaur BounsMangeet Uber Lyft Inc United States

Shares of ride-sharing company Lyft, Inc. (LYFT) plunged sharply after it provided disastrous fiscal 2023 first-quarter guidance. LYFT’s CFO pointed to “seasonality and lower prices” to explain the guidance. The company also suffered a substantial adjusted fourth-quarter loss, primarily reflecting higher insurance reserves.

LYFT’s fundamentals depict an unfavorable investment case right now. An unexpected loss in the fourth quarter and weak guidance for the first quarter of 2023 sent shares to all-time lows of $8.46. The stock has declined 20% over the past month and 52.1% over the past six months. It is currently trading below the 50-day and 200-day moving averages of $12.79 and $13.84, respectively, indicating a downtrend.

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