15 Recent Activist Investor Campaigns

4. LYFT Inc. (NASDAQ:LYFT)

Value of Stake: $50 Million

Engine Capital Activist Campaign Initiated: March 2025

Number of Hedge Fund Holders: 55

LYFT Inc. (NASDAQ:LYFT) is a technology company that offers a ridesharing platform that connects riders with drivers, offering various transportation options like ridesharing, bikes, scooters, rentals, and transit information. After losing nearly 50% in market value, activist hedge fund Engine Capital is ramping up pressure, pushing for strategic changes to revitalize the company’s growth prospects.

Engine Capital has proposed changes to the ridesharing company board, urging the company to consider a capital allocation strategy to return value to shareholders. The hedge fund also wants LYFT Inc. (NASDAQ:LYFT) to do away with its dual-class share structure. The activist investor is already gearing up for a boardroom fight, having already nominated candidates for consideration.

Engine Capital insists strategic changes are necessary to address the sagging stock price that has shed more than 60% in market value over the past year. In addition, the hedge fund insists that strategic changes could strengthen LYFT Inc.’s (NASDAQ:LYFT) competitive edge, which has lagged Uber for years.