It’s pay day tonight! People are eager to discover the world, and so the demand for Uber rides surely is up. And, it shows in how Uber’s stocks closed this week.
Officially, it’s a good call for Uber this week. At closing hour, it traded at almost $70, up by 0.82 percent. Here’s the scoop.
3-day stock performance
Up, down, and up, that’s the pattern for Uber’s stocks in the last three days. On November 11th, Uber shares closed modestly higher, gaining around 0.9 percent to almost $71.
It also recorded a super-strong AI-led technology rally as investors weighed on the current robotaxi competition risk versus delivery momentum. Still a good call.
The next day, though, on November 12th, it went down. Shares closed lower $69.12, down 2.21 percent, as investors feared the competition with robotaxis.
And, tonight, Uber shares closed modestly higher, rebounding from Thursday’s 2.2 percent drop even as technology sold off sharply on fallout some exits, and hot inflation data. Investors are weighing solid third-quarter results versus a soft fourth-quarter outlook, driver shortages, and robotaxi risk after Waymo said it will end Uber exclusivity in Austin and Atlanta in 2028. Way to go!
However, during after-hours trading, shares went lower, unfortunately, but this is generally negligible.
Hot, hot hot: Uber stocks could be one of the largest holdings right now
Meanwhile, in extra! Extra! Uber stocks news, famous finance website The Motley Fool stated that Uber stocks could be among the largest holdings right now.
Sure, looking at the bigger picture, it stocks may be down 29 percent from its peak, since investors are worrying the company will fall victim to the robotaxi revolution, but financial experts believe this is mistaken.
As a matter of fact, they are predicting that Uber “could be one of the biggest beneficiaries of self-driving cars…”
“Autonomous vehicles could transform Uber’s business,” stated The Motley Fool. “Developing a safe and competent self-driving car isn’t the hardest part of succeeding in the autonomous industry. Companies have to build a platform where customers can request a ride, and they also have to manage the fleet so an appropriate number of cars are deployed in each city. Uber has all of this infrastructure in place already, which is why several companies have chosen to deploy their autonomous vehicles in its ride-hailing network.”
Do you agree? Share your thoughts when you open your account now on RSF! ‘Til then!