The Uber Technologies (UBER) market cap has diminished by US$9.9b in the past seven days but shareholders still observed an increase of 42% over the last five years. Analysts provided the 'Moderate Buy' consensus for UBER stock ahead of Q2 earnings, as PGGM Investments and Swedbank AB acquired new shares. In a bid to speed up global EV transition, Uber has forged a partnership with BYD, the Chinese electric vehicle company. This deal proposes adding 100,000 EVs to the ride-hailing platform globally."
Meanwhile, Uber exhibits strategic innovation with the introduction of Uber Shuttle for Events, an extension of its partnership with Instacart for restaurant delivery, and a new deal with Lyft to reduce driver lockouts in New York City. The Uber leadership team also announced the dates for the Q4 2023 Results Conference Call and Virtual Investor Update. Despite this, Ubers's Q2 forecast is suffering due to weakened ride-share demand and it continues to experience market underperformance. However, some believe this to be temporary due to Uber's strong fundamentals and George Soros's investment could support this notion.
Uber Technologies UBER News Analytics from Mon, 08 Jan 2024 08:00:00 GMT to Sun, 04 Aug 2024 13:18:28 GMT - Rating 5 - Innovation 8 - Information 7 - Rumor 3
