Lyft mistakenly forecast 500 basis points of margin improvement for 2024, causing a stock surge.
The error was later corrected to 50 basis points, and the shares came back to earth.
Despite the typo, Lyft predicts healthy growth in rides for 2024.
A closely watched profit margin should expand by about 500 basis points in 2024.
Just not 500 basis points.
Persons:
Lyft, —
Organizations:
Service, Wall