Lyft advances as activist Engine Capital urges to address strategy
ReutersMar 25, 2025 5:31 PM
Shares of ride-hailing firm Lyft LYFT.O up 2.2% to $12.49 after rising as high as $13.20 in early afternoon trading on Tues after activist investor news
Hedge fund Engine Capital Management gearing up for a boardroom fight and has nominated director candidates, sources familiar with the matter told Reuters
The activist investor has pushed co in recent weeks to address its sagging stock price and strategy, the sources said
LYFT shares have lost nearly 40% over the past 12 months, including move on the session
Co has roughly $5 bln market cap
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