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Ride-Hailing Stocks Reverse After Recent Rally

Ride-hailing firms Uber Lyft and Grab have recovered some of their lost market value over the past month, but a selloff this week has undermined the rally.

The shares of Uber Technologies Inc. and Lyft Inc. have risen more than 35% since mid-July, aided by their stronger-than-expected results earlier this month. Singapore-based Grab Holdings which is set to report its second-quarter performance on Aug. 25, has jumped 41%.