Shares of ride-hailing company Lyft Inc rose as much as 4 percent on Friday, set...
- Shares of ride-hailing company Lyft Inc rose as much as 4 percent on Friday, setting the stock for its best day since its market debut last week, after short-seller Citron Research advised investors to hold on to the stock.
As of Thursday, Lyft’s short interest was $937 million, with 13.38 million shares shorted, which makes up about 41.2 percent of its float, according to data from S3 Partners, a financial technology and analytics firm. “This is not a trendy video game or a GoPro camera... this is a way of life that is saving people time and ensuring safety,” the note said.
Daiwa Capital Markets also initiated coverage on the company on Thursday, with an ‘outperform’ rating and a price target of $80.
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