Uber and Lyft Stocks Surge as Interest Rates Drop\n\nThe ride-sharing industry has seen a significant comeback in 2023, with Uber Technologies (NYSE:UBER) and Lyft (LYFT) both experiencing a surge in their stock prices. \n\nUber’s stock has risen by 141% since the beginning of the year, thanks to its strong earnings report in November and the anticipation of lower interest rates. On the other hand, Lyft’s stock has also seen a 23.3% increase in the past month, outperforming the S&P 500. This positive trend is expected to continue, as the company reported impressive third-quarter earnings, beating the Zacks Consensus Estimate.\n\nIn the third quarter of 2023, Lyft reported earnings of 24 cents per share, surpassing the Zacks Consensus Estimate of 13 cents. The company’s total revenues also exceeded expectations, reaching $1,157.6 million. This growth can be attributed to the increase in active riders, which rose by 10% to 22.4 million, and a slight decrease in revenue per active rider to $51.67.\n\nLyft’s outlook for the fourth quarter is also promising, with expected growth in gross bookings and adjusted EBITDA. The company’s management forecasts a mid-single digit increase in revenues and an adjusted EBITDA margin in line with the second quarter of 2023. The company has also received a strong Growth Score of A and an aggregate VGM Score of A.\n\nIn comparison, another company in the same industry, Etsy (ETSY), has also seen a rise in its stock price, gaining 27.3% in the past month. This further highlights the growth potential of the ride-sharing industry, despite the economic uncertainty.\n\nIn a the comeback of Uber and Lyft in 2023 has been impressive, with both companies showing strong fundamentals and growth.