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Benzinga
Benzinga
Business
Craig Jones

Why Institutional Traders Expect This Rideshare Stock To Rebound By Next Week

Lyft Lyft Inc Nasdaq Michael Khouw

Shares of LYFT Inc (NASDAQ:LYFT) crashed on Wednesday, even as the company reported better-than-expected first-quarter results. The stock tanked almost 30% on disappointing guidance.

On CNBC's "Options Action," Michael Khouw of Optimize Advisors said that Lyft traded 12 times its average daily call volume.

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