Here's what investors need to know about Lyft following the company's first earnings report.
Earlier Tuesday, Lyft (LYFT) and Alphabet's (GOOGL) Waymo announced a partnership through which Lyft customers will be able to hail rides from self-driving Waymo cars. Initially, the partnership covers just 10 cars -- each with a "safety driver" on board -- in the Phoenix area, where Waymo recently launched a driverless taxi service for select consumers.
Jeff Marks, senior portfolio analyst for Jim Cramer's Action Alerts Plus portfolio weighed in on what investors need to know about Lyft's deal with Waymo.
Marks said that he likes the partnership, but that he's more focused on what the partnership means for Waymo.