Lyft stock finished higher after only two of its last eight earnings reports
Lyft Inc (NASDAQ:LYFT) is gearing up for its latest earnings report, due out after the close on Wednesday, Nov. 6. Rideshare peer Uber (UBER) had a rough day after its report last week, following a decline in gross bookings, so we’ll see if LYFT fares better. The stock’s post-earnings history doesn’t do much to alleviate concern, however, as it’s only finished higher after two of its last eight reports.
LYFT posted a 16.9% drop after earnings last quarter, though it made a swift recovery on the charts. This time around, the options pits are pricing in a post-earnings move of 21.4%, regardless of direction, which is slightly larger than the 19.2% next-day move the stock has averaged over the last two years.
At last check today, the equity was up 2.3% at $13.78, and running into recent pressure at the $14 region. The 200-day moving average is also lingering overhead on top of that. Year to date, the equity is down 8.1%.
