Typo in earnings report sends Lyft stock soaring 67% — then crashing: ‘A debacle of epic proportions'

A typo in Lyft’s earnings report overstated a key profit metric by a factor of 10 — sparking a 67% spike in its stock late Tuesday before management corrected the error and sent the shares tumbling.Late Tuesday after the close of regular trading, the ride-hailing app told investors in an investor slideshow that its gross margin was expected to rise by 500 basis points — or 5% — this year. On a conference call later, Lyft CFO Erin Brewer quickly backtracked on the forecast, telling analysts there was an ext ...