Lyft hit a new low on Monday after shares of rival Uber has an underwhelming stock-market debut on Friday.
While it's hardly unique for a young technology company to lose money while chasing growth, analysts have still pointed to Lyft's uncertain path to profitability as a reason for caution. Lyft recorded a $1.1 billion loss in itsMeanwhile, Uber has been a major factor in evaluating Lyft's performance. Analysts are concerned about Uber's dominance in the global ride-hailing market and its sheer size as a competitive threat.
While the bears are laser-focused on Lyft's number-two position in the ride-hailing market and its eye-popping losses, the bulls are trying to craft a long-term narrative. "Long term, we still see shared transportation as a market with a long runway for secular growth, potentially more rational industry competitive dynamics as maturity approaches & broader positive impacts on society," Eric Sheridan, an analyst at UBS, wrote in a note to clients.
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