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Stock impact report

Reflecting On Gig Economy Stocks' Q4 Earnings: Lyft (NASDAQ:LYFT) [Yahoo! Finance]

Lyft, Inc. - Class A (LYFT) 
Last lyft, inc. - class a earnings: 2/11 04:05 pm Check Earnings Report
Company Research Source: Yahoo! Finance
Today, we are looking at gig economy stocks, starting with Lyft (NASDAQ:LYFT). The iPhone changed the world, ushering in the era of the “always-on” internet and “on-demand” services - anything someone could want is just a few taps away. Likewise, the gig economy sprang up in a similar fashion, with a proliferation of tech-enabled freelance labor marketplaces, which work hand and hand with many on demand services. Individuals can now work on demand too. What began with tech enabled platforms that aggregated riders and drivers has expanded over the past decade to include food delivery, groceries, and now even a plumber or graphic designer are all just a few taps away. The 5 gig economy stocks we track reported a weak Q4; on average, revenues were in line with analyst consensus estimates, while next quarter's revenue guidance was 5% below consensus. Inflation progressed towards the Fed's 2% goal at the end of 2023, leading to strong stock market performance. The start of 2024 has bee Show less Read more
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