Lyft earnings snapshot
Gary Christie August 8, 2020 2:50 AM
Can Lyft pick up its own stock price after earnings on Wednesday?
On Wednesday, Lyft (LYFT) is anticipated to announce a second quarter loss per share of $1.03 vs LPS of $0.68 a year ago on revenue of $335M compared to $867M last year.
The company has put focus on a temporary program to deliver essential items such as groceries, meals and medical supplies to people in need during the pandemic. The Co has also invested heavily into autonomous technology. This latest earnings report will give us key insights into how the company is controlling expenses during the pandemic.
Lyft has an expected move of 14.6% in either direction based on front month options pricing. The last time Lyft reported earnings the stock jumped 21%.
Looking at a daily chart, we anticipate a short term rebound towards $37.80. The stock is challenging a rising trend line support area. If $27.45 can hold as support, we may see a move higher towards $37.80 and $41.20 resistance. A failure of $27.45 support could mean a test of multiple support areas all the way down to March lows at $14.55.
Source: GAIN Capital, TradingView
From time to time, GAIN Capital Australia Pty Ltd (“we”, “our”) website may contain links to other sites and/or resources provided by third parties. These links and/or resources are provided for your information only and we have no control over the contents of those materials, and in no way endorse their content. Any analysis, opinion, commentary or research-based material on our website is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. No representation or warranty is made, express or implied, that the materials on our website are complete or accurate. We are not under any obligation to update any such material.
As such, we (and/or our associated companies) will not be responsible or liable for any loss or damage incurred by you or any third party arising out of, or in connection with, any use of the information on our website (other than with regards to any duty or liability that we are unable to limit or exclude by law or under the applicable regulatory system) and any such liability is hereby expressly disclaimed.