Rideshare Recovery Still Lacks an ETA

Omicron has sneezed on rideshare’s recovery, but only one platform is vaccinated.

Both Lyft and Uber Technologies reported solid fourth-quarter results over the past two days, sending shares of both ride-hailers up in Wednesday’s session and after hours. But their first-quarter guidance showed Omicron has added many miles to ride hailing’s widely prophesied recovery. Investors seem to have forgotten that Lyft, in particular, plays in a duopoly where speed matters.