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Was Lyft stock’s bonkers after-hours rally due to mistake in earnings



When Lyft Inc. put out its earnings release Tuesday afternoon, the ride-hailing platform forecast a gain this year in an adjusted profit metric. But during the company’s earnings call later in the day, management issued a correction, saying that increase was, in fact, smaller than what it said the first time around.

Shares, in the process, ballooned in value after hours — rocketing upwards of 60% higher at one point — then quickly contracted before settling to still-solid gains of around 16%.

Lyft…

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