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Why Lyft (LYFT) Stock Is Up Today

February 10, 2025 at 15:01 PM EST

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

LYFT Cover Image

What Happened?

Shares of ride sharing service Lyft (NASDAQ: LYFT) jumped 5.5% in the morning session after the company announced plans to launch self-driving robotaxis in collaboration with Mobileye "as soon as 2026." Lyft's CEO, David Risher, posted on X that the company will also partner with Marubeni, a Japanese conglomerate specializing in auto and fleet financing. Risher added that putting more autonomous vehicles on the road could expand Lyft's addressable market. The company plans to launch in Dallas before expanding to other markets.

After the initial pop the shares cooled down to $14.83, up 4.6% from previous close.

Is now the time to buy Lyft? Access our full analysis report here, it’s free.

What The Market Is Telling Us

Lyft’s shares are very volatile and have had 28 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The previous big move we wrote about was 4 days ago when the stock gained 5.3% on the news that the company announced a partnership with Amazon and AI startup Anthropic to develop artificial intelligence tools for customer care. It noted that some of its existing AI deployments have drastically reduced customer service resolution times. Jason Vogrinec, executive vice president of platforms at Lyft, added, "We see AI as an opportunity to improve the quality and effectiveness of our operations, not to reduce headcount."

Lyft is up 8.6% since the beginning of the year, but at $14.83 per share, it is still trading 26.9% below its 52-week high of $20.28 from March 2024. Investors who bought $1,000 worth of Lyft’s shares 5 years ago would now be looking at an investment worth $275.97.

Today’s young investors won’t have read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next.

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AMD

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GOOG

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+0.00 (0.00%)

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Why Lyft (LYFT) Stock Is Up Today

What Happened?

What The Market Is Telling Us

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