More people may be once again hailing a ride from Uber Technologies Inc. and Lyft Inc., but investors remain wary that efforts to woo back more drivers could derail profitability goals.
Lyft plunged as much as 35%, the most ever, dragging Uber down more than 12% after both companies reported quarterly results that pointed to strong demand for rides, but failed to reassure Wall Street that a driver shortage that’s cost the companies hundreds of millions of dollars in bonuses was abating.
