|Day's range||0.5500 - 0.6200|
Shares of Lyft (NASDAQ: LYFT) were on the move today after the ride-sharing operator announced a change in management. It said that the two co-founders would relinquish their roles in day-to-day operations and David Risher, a former Amazon and Microsoft executive, would become the next CEO. It was down 4% by 1:46 p.m. ET after Risher said the company wasn't interested in selling itself.
DUBAI (Reuters) -Uber Technologies' Middle East subsidiary Careem is in advanced talks with Emirates Telecommunications Group Company to invest in its expansion into services beyond ride-hailing, five sources with knowledge of the matter told Reuters. Careem began seeking outside investors last year to help finance its Super App, which offers services outside its core ride-hailing business such as food delivery, bike rentals, digital payments and courier services. Careem's discussions with the company, formerly known as Etisalat Group and now called e&, are at an advanced stage and a deal could be announced soon, said the sources, declining to be named because the matter is not public.
Lyft (LYFT) continues to struggle, as evidenced by the 12.9% year-to-date decline in its shares.