Lyft announces car rental service; Hertz and Avis shares plunge
Lyft went public on Friday, March 29, 2019, with a value above $20 billion. Lyft said on Thursday that it's introducing a car rental service, allowing customers to rent a vehicle without having to go to the counter. "With Lyft Rentals, we're giving riders the flexibility to rent a car for weekend getaways, business trips, or even to run errands," Lyft said in a blog post. The rental option includes unlimited miles, and Lyft said it will handle refueling at market price. Hertz dropped almost 6% to $15.26, and Avis fell 5% to $30.89.
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