Uber Technologies stock: Is Uber a buy sell or hold?
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UPGRADE- NYSE:UBER gains 2.55% as big tech stocks rally on Thursday.
- A couple of Uber rivals make some major headlines around the world.
- UBER looks strong after coming off a record month for gross bookings.
NYSE:UBER has been a stock that was beaten down during the COVID-19 pandemic, as ride-hailers were understandably hesitant to enter vehicles with other strangers. The stock has been trading near all-time highs recently, and even though it has been a somewhat disappointing stock as far as big tech IPOs go, today Uber is an impressive $113 billion company. On Thursday, Uber rode the wave up with other big tech stocks and gained 2.55% to close the trading day at $60.74. Shares of Uber are trading well above both the 50-day and 200-day moving averages, as it looks to continue its momentum into its May 5th earnings call.
Stay up to speed with hot stocks' news!
But Uber’s rivals have stolen the spotlight as of late, making some major splashes across the industry. First, Southeast Asian ride-hailing company Grab, announced it was going public via a SPAC IPO with shell company Altimeter Growth (NASDAQ:AGC) with an estimated $40 billion valuation. Then, Uber’s long-time direct rival Lyft (NASDAQ:LYFT) announced it was steering clear of the food delivery industry that Uber is in, and instead is making a play on health care transportation for those who cannot make it to doctor’s offices or hospitals on their own. Health care organizations will send pre-paid Lyft cards for these patients to use, in what should be a healthy boost for the company.
Uber Stock news
Uber is coming off its best month ever in terms of gross bookings, another sign that the economy is slowly starting to open up, particularly in the United States where vaccinations have been rolled out at a rapid pace. Uber managed to stay afloat during the pandemic with its food delivery services, and recent mentions of marijuana deliveries in states where it has been legalized is also on its radar.
- NYSE:UBER gains 2.55% as big tech stocks rally on Thursday.
- A couple of Uber rivals make some major headlines around the world.
- UBER looks strong after coming off a record month for gross bookings.
NYSE:UBER has been a stock that was beaten down during the COVID-19 pandemic, as ride-hailers were understandably hesitant to enter vehicles with other strangers. The stock has been trading near all-time highs recently, and even though it has been a somewhat disappointing stock as far as big tech IPOs go, today Uber is an impressive $113 billion company. On Thursday, Uber rode the wave up with other big tech stocks and gained 2.55% to close the trading day at $60.74. Shares of Uber are trading well above both the 50-day and 200-day moving averages, as it looks to continue its momentum into its May 5th earnings call.
Stay up to speed with hot stocks' news!
But Uber’s rivals have stolen the spotlight as of late, making some major splashes across the industry. First, Southeast Asian ride-hailing company Grab, announced it was going public via a SPAC IPO with shell company Altimeter Growth (NASDAQ:AGC) with an estimated $40 billion valuation. Then, Uber’s long-time direct rival Lyft (NASDAQ:LYFT) announced it was steering clear of the food delivery industry that Uber is in, and instead is making a play on health care transportation for those who cannot make it to doctor’s offices or hospitals on their own. Health care organizations will send pre-paid Lyft cards for these patients to use, in what should be a healthy boost for the company.
Uber Stock news
Uber is coming off its best month ever in terms of gross bookings, another sign that the economy is slowly starting to open up, particularly in the United States where vaccinations have been rolled out at a rapid pace. Uber managed to stay afloat during the pandemic with its food delivery services, and recent mentions of marijuana deliveries in states where it has been legalized is also on its radar.
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