💨 Abstract

Lyft shares dropped by 14% in premarket trading on Wednesday due to a continued decline in pricing trends from late 2023. This is as Lyft attempts to match prices with larger rival Uber. The ride-hailing platform has been offering lower fares and more coupons to remain competitive, while Uber expects prices for its UberX service to rise slightly due to insurance cost hikes.

Courtesy: theprint.in

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