Why Lyft and Expedia Dragged Down the Nasdaq Friday

Wall Street has had a volatile week, and investors seemed ready for the weekend on Friday. Although other stock market indexes moved higher, the Nasdaq Composite (^IXIC) was stuck in the red, losing more than 1% at noon ET.

A couple of high-profile stocks weighed on investor sentiment on the Nasdaq. Lyft (LYFT -36.44%) shares plunged following the ride-hailing service’s latest financial report, with shareholders worried about the company’s competitive position in an increasingly challenging space. Meanwhile, Expedia Group (EXPE -8.55%) also suffered declines even as the travel industry has hoped that conditions would return to normal with more countries easing up on pandemic-related restrictions.

Lyft heads back toward multiyear lows

Shares of Lyft plummeted 36% at midday on Friday as investors responded negatively to the company’s fourth-quarter financial report. The move took the stock price back…

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