Lyft is trading at $18.66, up 11.97%, alongside a broad market rally.
- The S&P 500, Nasdaq and Dow are all up more than 1.6%.
- Reuters reported U.S. stocks rallied after Democrats won control of both chambers, as investors responded to the election outcome and prospects for divided-government gridlock.
- Consumer discretionary stocks are also gaining. Lyft is scheduled to report third-quarter results after the close on November 5; no company-specific catalyst for this move was identified.