These 5 Stocks are Getting Crushed on Monday

In this article, we discuss the 5 stocks getting crushed on Monday. If you want to see some more companies on the list, go directly to These 10 Stocks are Getting Crushed on Monday.

5. Lyft, Inc. (NASDAQ:LYFT)

Number of Hedge Fund Holders: 35

Shares of Lyft, Inc. (NASDAQ:LYFT) plummeted to a nearly two-month low this morning after receiving a downgrade from UBS. The research firm reduced its ratings for the ride-sharing service from “Buy” to “Neutral,” citing a recent survey involving drivers using both Lyft and Uber.

The survey indicated drivers prefer Uber over Lyft as the Uber app offers greater reach, faster boarding process and better earnings opportunities. The research firm also cut its price target for Lyft, Inc. (NASDAQ:LYFT) from $50 per share to $16 per share.

Earlier this year, Lyft, Inc. (NASDAQ:LYFT) appeared in the first-quarter 2022 investor letter of investment management firm Rowan Street Capital LLC. Here’s what the firm said:

“Lyft (NASDAQ:LYFT): We sold Lyft in Q1 ’22 to fund the acquisitions of our 3 new positions as we’ve outlined. We had owned Lyft for a little less than 3 years and realized approximately 50% gain on the stock. The new companies we bought with the proceeds from the sale are significantly better businesses, in our view.”