Lyft stock sunk as much as 9% on Thursday.<br />The drop comes after the company said it will suspend service in California starting at midnight.<br />Business Insider reports that California court ordered Lyft and rival firm Uber to reclassify drivers as employees.<br />Both rideshare companies threatened to suspend operations in the state should the injunction take effect.<br />Uber has yet to announce a suspension but is expected to do so.<br />The tumble placed Lyft shares at their lowest levels since early May.
