Lyft dips premarket on Q2 miss, bulls eye cheap entry
Lyft stock fell 5.1% premarket after Q2 revenue of $1.59B missed estimates of $1.61B. EPS beat at $0.10 vs $0.04 expected. Gross bookings and rides also slightly lagged forecasts. Retail sentiment turned 'extremely bullish,' with investors calling the stock undervalued. Lyft plans robotaxis with May Mobility in Atlanta and Baidu in Europe by 2026.