Uber Technologies and Lyft Inc. IPOs Message Board

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Technology Stocks : Uber Technologies and Lyft Inc. IPOs

UBER 92.75

-2.1%

Nov 5 3:59 PM EST

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From: Glenn Petersen	6/3/2020 7:56:27 AM
	of 266

h/t Moonray Lyft reports 26% growth in rides for May, but the worst is far from over Jessica Bursztynsky Lyft said that r ides on its platform increased 26% in May 2020, as states began to reopen, compared to April 2020. Still, the company said in a regulatory filing that its rides are down 70% compared to this time last year. Lyft’s data is one of the first looks a company has given investors on how well businesses are doing as states start to reopen. The com- pany added that it doesn’t expect its adjusted EBITDA loss for its second quarter to exceed $325 million if average rideshare volume in June stays similar to May 2020 levels. Prev- iously, the company said that loss would not exceed $360 million. o~~~ O

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