|Day's range||6.49 - 6.50|
Shares of Lyft (NASDAQ: LYFT) were on the move today after the ride-sharing operator announced a change in management. It said that the two co-founders would relinquish their roles in day-to-day operations and David Risher, a former Amazon and Microsoft executive, would become the next CEO. It was down 4% by 1:46 p.m. ET after Risher said the company wasn't interested in selling itself.
Lyft (LYFT) continues to struggle, as evidenced by the 12.9% year-to-date decline in its shares.
(Reuters) -Lyft Inc's shares were down 3% in mid-day trading on Tuesday after incoming Chief Executive Officer David Risher said the ride-hailing firm was not for sale. The appointment of the new chief executive, who has run a non-profit for more than a decade, sparked some speculation that Lyft was preparing itself for sale. Wall Street initially cheered the management change at Lyft.