Uber and Lyft share prices start to rise after tough month following COVID-19 outbreak

Updated: Mar 23



The stock price of both ride-hailing giants Uber and Lyft rose sharply on Thursday after a month of decline caused by the outbreak of COVID-19.


According to CNBC sources, Uber reassured investors that they had enough cash reserves to see them through the coronavirus pandemic.

Officials also highlighted some growth in other areas of the business, especially in its food delivery service UberEats, in-amongst the fall in passengers making trips.


One month ago Uber’s share price stood at $40.92 on 20 February. Since then the global outbreak has hit stock markets hard and saw Uber’s stock price drop to just $14.82 on 18 March.

Yesterday’s announcement saw Uber’s price jump back up to $20.49 and is expected to rally further today.


Uber's biggest rivals Lyft have also experienced similar problems. A month ago Lyft’s share price stood at $45.47 on 20 February, but plummeted to just $16.05 on 18 March.


Yesterday the ride-hailing firm’s share price rose to $20.70 as signs of confidence returns to the transport market.

Cabvision GIF July 2020.gif
  • Facebook TaxiPoint
  • Twitter TaxiPoint
  • YouTube TaxiPoint
  • Instagram
ltda banner.JPG
Ethos Banner 516x175 HS.gif
Market footer GIF.gif
TaxiPoint--300x200px-MLP-GIF.gif
private hire cover from Utility Saving Expert
advert gif.GIF
ltpr.GIF
300x200main.gif
RSS Feed

The views expressed in this publication are not necessarily those of the publishers.

 

All written and image rights are reserved by authors displayed. Creative Common image licenses displayed where applicable.

Reproduction in whole or in part without prior permission from the publisher is strictly prohibited.

All written content Copyright of TaxiPoint 2020.