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Lyft stocks are up again, and investors feeling bullish on the company can turn to reliable brokerage accounts to get in on the action.
New Rules, New Partnership
Lyft stock saw a double-digit jump this morning as the company announced a new partnership with Waymo, Google’s self-driving car company. The partnership includes an expansion of Waymo’s fully autonomous ride-hailing service to Nashville in 2026.
Riders will be able to book Waymo rides first through the Waymo app, but Lyft will also dispatch Waymo rides on its network for matched rides later next year. As Lyft edged out Uber in the race to autonomous driving, Uber shares dipped.
Lyft stocks also saw an assist from the Senate passing legislation backed by Uber and Lyft that lowers how much uninsured and underinsured insurance coverage Uber and Lyft are required to provide to drivers. The companies argued it bled into passenger and driver costs.
The bill also removed protections that required ride-share drivers to carry $1 million in coverage for accidents caused by other drivers who are uninsured or underinsured, lowering the requirement to $60,000 in uninsured motorist coverage per individual and $300,000 per accident.
Uber and Lyft dropped their opposition to a bill that gets California drivers one step closer to unionization in exchange for passage of SB 731, according to Cal Matters.
Feeling Bullish?
If you’re interested or new to trading, shopping around for a brokerage account may prove easier than you’d think.
Options like Charles Schwab are beginner-friendly, as they require no minimum deposit requirements and offer commission-free investment products. What makes Charles Schwab stand out from other brokers is the sheer wealth of information it offers to new investors, including market commentary, investing basics, podcasts, videos, and even in-person events.
If you’re interested in trading cryptocurrency, however, it might not be for you, as it does not offer crypto spot trading. A similar broker with a compendium of resources is Fidelity, which streamlines trading with roboadvisor offerings alongside human advisory services. However, Fidelity does not offer futures or paper trading.
When opening a brokerage account, consider your needs and shop around for the best fit. Take note of accounts that require minimum deposits or fees to get started. Some accounts, like Webull, may offer competitive APY rates on idle cash, which could come in handy for new investors.
Bottom Line
If the news on Lyft stocks has inspired you to make the leap into the trading world, brokerage accounts can make the transition easy. Shop around for a service that fits your trading and customer service needs and budget.