LYFT Jun 2024 20.500 call
- Yahoo Finance Video
Cities are 'the biggest hurdle' for Tesla's robotaxi: Analyst
RBC Capital Markets Global Autos Analyst Tom Narayan has lowered his price target for Tesla (TSLA) from $293 to $227, citing concerns about the company's anticipated robotaxi project. Narayan joins the Morning Brief to share his perspective on the electric vehicle giant's outlook. Narayan's price target revision was influenced by two key factors. First, he anticipates lower pricing in the rideshare industry by the time robotaxi launches. Second, he projects higher revenue share percentages for rideshare platforms like Uber (UBER) and Lyft (LYFT), potentially diminishing robotaxi's valuation. Despite these concerns, Narayan maintains that the robotaxi project will be the "biggest contributor of value for Tesla." However, Narayan emphasizes that "the biggest hurdle" for this technology lies not in its development but in infrastructure adaptation. "The tech isn't that really far away, it's not the tech. It's really the cities need to reengineer themselves," Narayan explains to Yahoo Finance. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Angel Smith
- Bloomberg
US Lawmakers Take On Uber, Lyft Rider Surveillance in New Bill
(Bloomberg) -- Two US senators are introducing a bill that would require ride-hailing companies including Uber Technologies Inc. and Lyft Inc. to notify passengers if their assigned drivers are using dashcams to record them. Most Read from Bloomberg‘I Live in Hell’: Anti-Growth Fervor Grips US South After Pandemic BoomWhat to Know About the Deadly Flesh-Eating Bacteria Spreading in JapanNvidia’s 591,078% Rally to Most Valuable Stock Came in WavesNvidia Becomes World’s Most Valuable Company as AI
- StockStory
Why Are Lyft (LYFT) Shares Soaring Today
Shares of ride sharing service Lyft (NASDAQ: LYFT) jumped 6.7% in the morning session after major indices soared as yields declined after the Bureau of Labour Statistics reported CPI (Consumer Price Index - a gauge of the average price consumers pay for goods and services) for the month of May 2024 came in better than expected at 3.3% year on year (versus analysts’ expectations for 3.4%).
