Uber Down 4%, Lyft Declines 5%
November 26 2021 - 2:41PM
Dow Jones News
By Josh Beckerman
Uber Technologies Inc. fell 4% to $40.52 during Friday's
shortened session, while Lyft Inc. was down 5% at $42.40, on a day
of broad declines amid concerns about a new Covid-19 variant.
A Wednesday ruling by the Brussels Appeals Court was expected to
result in the shutdown of most Uber service in Brussels, effective
Friday evening. According to Politico Europe, Brussels officials
said Friday that they had reached an agreement on taxi law
reform.
Uber's stake in Chinese ride-hailing company Didi Global Inc.
was a factor in Uber's $2.42 billion third-quarter loss. Bloomberg
reported Thursday that China asked Didi to come up with a plan to
delist in the U.S.
In 2020, Uber and Lyft suffered sharp declines in ride-hailing,
while the Uber Eats service gained popularity.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
November 26, 2021 14:26 ET (19:26 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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