Why Lyft's Stock Is Trading Higher Today

Lyft Inc LYFT shares are trading higher on Tuesday, potentially in sympathy with Uber Technologies UBER which gained after announcing plans to invest to help switch to a fully-electric fleet by 2040.

Lyft is the second-largest ride-sharing service provider in the U.S., connecting riders and drivers over the Lyft app. Lyft offers rides via private vehicles, including traditional private rides, shared rides and luxury ones.

Lyft shares were trading up 4.73% at $30.34 in Tuesday’s session. The stock has a 52-week high of $54.50 and a 52-week low of $14.56.