Lyft forecast gaffe jolts traders, could invite scrutiny - Yahoo Finance

Feb 14, 2024 · Lyft said incorrectly that a key margin metric was expected to rise by 500 basis points this year, but Brewer later corrected that forecast to an increase of 50 basis points. …

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UPDATE 1-Lyft Forecast Gaffe Jolts Traders, Could Invite Scrutiny

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Analysts said the surge could have included significant short covering from hedge funds. Lyft had short interest of $566.1 million, or 13.1% of its free float shares, as of Feb. 12, according to ...

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Lyft - The Globe And Mail

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Feb 14, 2024 · Lyft shares jump as company forecasts 15% annual growth in gross bookings through 2027 . June 6, 2024. ... Lyft’s forecast gaffe jolts traders, could invite scrutiny, analysts …

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FAQs about Lyft forecast gaffe jolts traders, could invite scrutiny - Yahoo Finance Coupon?

Will Lyft stock add $165 billion to the market?

Lyft said incorrectly that a key margin metric was expected to rise by 500 basis points this year, but Brewer later corrected that forecast to an increase of 50 basis points. Still, Lyft shares surged to a one-year high on Wednesday and were last up 34%, putting them on course to add more than $1.65 billion to the market value. ...

Does Lyft have a margin metric?

Lyft said incorrectly that a key margin metric was expected to rise by 500 basis points this year, but Brewer later corrected that forecast to an increase of 50 basis points. About 48 million shares traded after-hours Tuesday, more than triple the usual daily regular-session volume in the stock. ...

Why did Lyft stock surge 67%?

An error in its earnings statement caused a brief 67% surge in shares before a clarification from Chief Financial Officer Erin Brewer in a conference call with analysts. Lyft said incorrectly that a key margin metric was expected to rise by 500 basis points this year, but Brewer later corrected that forecast to an increase of 50 basis points. ...

Will Lyft's forecast error lead to regulatory scrutiny?

Feb 14 (Reuters) - Lyft's (LYFT.O) forecast error that sent shares into a tizzy overnight may invite regulatory or legal scrutiny, analysts and experts said on Wednesday, overshadowing its solid quarter and forecast. ...

Why did Lyft shares Surge 21% before the bell?

(Reporting by Samrhitha Arunasalam and Medha Singh in Bengaluru; Editing by Arun Koyyur) Lyft shares surged more than 21% on Wednesday before the bell after the ride-hailing company said cost cuts would help it generate positive free cash flow for the first time in 2024 and posted market-beating quarterly profit. ...

Could Lyft be fined?

"The SEC will probably review the situation given the scale of the share price movement upon release of the original results and Lyft could potentially be fined," said Dan Coatsworth, an investment analyst at AJ Bell. Analysts said the surge could have included significant short covering from hedge funds. ...