Lyft's stock experienced a significant increase in trading activity following the release of their Q1 earnings and sales report, which was better than expected. In addition to this positive news, the company also provided a promising forecast for demand in the current quarter.

The company's gross bookings for the first quarter reached $3.7 billion, marking a 21% increase compared to the previous year. Lyft's adjusted earnings came in at 15 cents per share on sales of $1.28 billion for the quarter ending in March, outperforming analyst expectations. This is a significant improvement from the previous year's earnings of 8 cents per share on sales of $1 billion during the same period.

With such positive results, Lyft's stock experienced a surge, signifying investor confidence in the company's performance.