Lyft Stock Trades Lower as Insiders Sell Shares

Lyft stock, which is having a stellar year, was falling Tuesday on the heels of two insiders selling shares of the ride-hailing company. Co-founder John Zimmer sold shares worth $3.5 million on Monday, while President Kristin Sverchek sold shares worth $85,000, according to securities filings. Despite the drop, the stock has risen 38% in 2023, putting it on pace for its best year on record based on available data back to March 2019, according to Dow Jones Market Data.