6/3, 7:11 PM (Source: TeleTrader)
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Chart for: Lyft

Lyft jumps over 10% due to increased rides number

Shares of American ridesharing company Lyft Inc. rose more than 10% on Wednesday after it was reported that its business increased in the last month due to the reopening of states' economies.

The company said the number of rides grew by 26% in May compared to Aprile. However, its sales were still 70% lower than it was the case a year ago.

Lyft rose by 10.39% to $34.97 at 1:07 pm ET.

Breaking the News / TF