news 1 month ago

Pops & Flops: Lyft, Fat Brands, and SmileDirectClub Stock

Cheddar
Lyft shares plummet after the company's latest earnings report show a 61 percent drop in ridership, likely due to stay-at-home orders. The company is also considering suspending operations in California after a court ruled ride-hailing services must hire drivers as employees, not independent contractors. Shares for Fat Brands are popping after the company announced it would acquire Johnny Rockets in a $25 million deal, and SmileDirectClub shares flop on its report showing it earned $107 million in Q2, a drop from $196 million in 2019.