Tepid investor reaction clouds Lyft’s new strategy

Shares of Lyft are off sharply this morning, falling nearly 20% in early trading. The company’s equity is selling off in the wake of the U.S. ride-hailing giant’s first quarter results and its comments regarding the current quarter, and how its new strategic posture will affect its growth and economics in the coming quarters.
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In the wake of Lyft’s decision to remove its founders from day-to-day control, dramatically cut staffing, and bring in an external CEO

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