Lyft Stock News

NYC Taxis Finally Win One: Drivers Secure Help In Slashing Medallion Loan Balances We have been following how ridesharing companies have decimated the taxi industry for years now. In addition to rendering taxi medallions near-worthless compared to the price that many drivers spent their lives (and careers) working to purchase them at, ridesharing companies have also contributed to a rash of depression and suicides among drivers who have seen their livelihoods plummet suddenly and unexpectedly. But now, it''s looking like taxi''s could be on their way back, according to FT . And it could be due to an unlikely hero: law firm Kirkland & Ellis. Kirkland & Ellis is best known for getting in the trenches on messy corporate transactions. But they also represented New York City cab drivers in a pro bono assignment after drivers resorted to a "round the clock hunger strike" to draw attention to help they needed resolving loans to buy taxi medallions, the report says. And the efforts paid off: drivers got relief early this month when a deal between the citys municipal government, a private equity firm that had become the single largest taxi medallion creditor, and an advocacy group that spoke for thousands of taxi drivers resulted in slashing loan balances for drivers, FT wrote.

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Shares of Lyft, Inc. (NASDAQ:LYFT) have been assigned an average recommendation of Buy from the thirty-six research firms that are currently covering the firm, MarketBeat.com reports. Eight research analysts have rated the stock with a hold recommendation and twenty-three have issued a buy recommendation on the company. The average 12 month target price among analysts []

Metropolitan Life Insurance Co NY acquired a new stake in shares of Lyft, Inc. (NASDAQ:LYFT) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 19,423 shares of the ride-sharing companys stock, valued at approximately $1,175,000. Several other institutional investors and hedge funds []

NEW YORK CITY, New York: Profits reported by U.S.-based ride sharing companies Lyft and Uber have soared, even as both companies are conducting recruitment campaigns due to a shortage of drivers resulting from the COVID-19 crisis. Since COVID-19 struck, charges to customers nationwide for on-demand rides have increased. Uber and Lyft, the two ride sharing heavyweights that control 90 percent of the U.S. m