Uber Technologies (UBER) has been undergoing some turbulent times with its stock experiencing significant fluctuations. Amongst the concerns, one is the retirement Systems of Alabama selling 55,215 shares of Uber. Other shareholders, such as B. Riley Wealth Advisors Inc., are also selling off their shares in Uber. Herein lays the potential short-term buying opportunity; Goldman Sachs even recommends Uber as a top pick for 2025 suggesting a potential >50% upside. The drivers for this optimism could be due to several developments. Uber has launched autonomous mobility services in Abu Dhabi in collaboration with WeRide, a promising step towards
market dominance. They are also backing a small $400 million AI company alongside Nvidia, indicating strong
interest in AI technology. However, competition grows as Google’s Waymo is bringing driverless taxis to Miami, causing Uber and Lyft’s stocks to fall.
GM’s decision to halt Robotaxi funding also negatively affected Uber as investors feared about robotaxis' future. Analysts suggest buying Uber stock like there’s no tomorrow envisaging significant
growth opportunities, while some are concerned over Uber’s earning quality. As a piece of bullish news, Uber’s partnership with Wayve and Avride to accelerate automated driving and autonomous delivery is a considerable innovative development.
Uber Technologies UBER News Analytics from Wed, 15 May 2024 07:00:00 GMT to Sat, 14 Dec 2024 12:31:46 GMT -
Rating 5
- Innovation 5
- Information 7
- Rumor -2
