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Uber (NYSE:UBER), Lyft (NASDAQ:LYFT) and DoorDash (NYSE:DASH) shares are trading lower on reports the Biden administration is planning to block a Trump-era rule that would have made it easier to classify gig workers as independent contractors rather than employees.
If classified as employees, workers would be entitled to additional benefits that the companies would need to provide.
At the time of publication Uber shares were down 2.5% at $51.60, Lyft shares were down 3.8% at $54.08 and DoorDash shares were down 3.19% at $130.90.
Uber has a 52-week low of $26.81 and a 52-week high of $64.05. Lyft has a 52-week low of $21.34 and a 52-week high of $68.28. DoorDash has a 52-week low of $121 and a 52-week high of $256.09.
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