Rideshare giant Lyft is a stock I'll be watching in the coming weeks and months as the world starts to reopen from the COVID-19 pandemic. As restrictions are lifted and the weather heats up, the majority of people will be looking to make up for lost time. This means more demand for transportation, especially for rideshare companies like Uber and Lyft.
From a technical standpoint, Lyft is forming a huge base on its' weekly chart. I really love the accumulation that is all over this chart. I'm still a little hesitant with the market as breakouts have been failing over the past month or so. However, Lyft is on top of my list as a stock to buy should the market give a clear indication that conditions are bullish for growth stocks.
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