Why Are Uber, Lyft And DoorDash Trading Lower?

Shares of Uber Technologies, Inc. UBER, Lyft, Inc. LYFT and DoorDash, Inc. DASH are trading lower on reports the U.S. Labor Secretary said most U.S. gig workers should be classified as employees.

Lyft is the second-largest ride-sharing service provider in the U.S., connecting riders and drivers over the Lyft app.

The stock was trading down 10.7% at $56.58 at the time of publication. The stock has a 52-week high of $68.28 and a 52-week low of $21.34.

Uber is a technology provider that matches riders with drivers, hungry people with restaurants and food delivery service providers, and shippers with carriers.

The stock was trading down 6.5% at $54.64 per share. The stock has a 52-week high of $64.05 and a 52-week low of $26.58.

DoorDash Inc provides online food delivery logistics services. The company provides on-demand food delivery services through its website.

The stock was trading down 10% at $146.50 per share. The stock has a 52-week high of $256.09 and a 52-week low of $121.