Why Lyft's Stock Is Trading Lower Today

Lyft Inc (NASDAQ: LYFT) shares are trading lower on Monday.

Atlantic Equities analyst James Cordwell says the weakness may be related to readacross from Hertz and Avis, which reportedly saw April demand down 80% year-over-year.

Hertz is being forced to liquidate some of its fleet, which is "having implications" for the car market.

Lyft shares were trading down 9% at $26.94 at time of publication on Monday. The stock has a 52-week high of $68.33 and a 52-week low of $14.56.

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