$LYFT Lyft Inc Deep Dive and 2024 Outlook

The cup and handle has broken down, making it bearish

Lyft, Inc. is a prominent American mobility service provider, primarily known for its ride-hailing platform. Founded in 2012 by Logan Green and John Zimmer, Lyft originated from Zimride, a long-distance carpooling service established in 2007. The company quickly became the second-largest rideshare operator in the U.S., trailing only Uber. It has expanded its services to include motorized scooters, bicycle-sharing systems, and food delivery in select cities across the U.S. and Canada.

Lyft employs a dynamic pricing model, adjusting fares based on local demand and supply, and classifies its drivers as independent contractors, a practice that has faced criticism and legal scrutiny. Lyft leverages Amazon Web Services (AWS) for its operational needs, utilizing various cloud services to efficiently manage ride requests and customer data. The company has also engaged in strategic acquisitions, such as Motivate, a bike-sharing operator, and partnerships in the healthcare sector to facilitate patient transportation.

The big questions for Lyft Inc and the stock in 2024?

1. Can Lyft Achieve Sustainable Profitability?

2. Can Lyft Diversify Its Revenue Streams?

3. How Will Regulatory Issues Impact Lyft?

4. How Will Lyft Compete with Uber?