Back when the Covid-19 crisis first capsized the economy, forward-looking investors bet heavily on travel stocks to buy. Simply, they anticipated that pent-up demand would eventually catapult the underlying industry once society fully normalized.
Uber is asking riders to email Minnesota lawmakers to pass comprehensive statewide legislation to boost driver earnings so they can bring ride-share services back to Minneapolis.
Although I generally remain bullish on Uber (NYSE: UBER ) stock, the company does have meaningful threats in the medium term that are worth watching. Still, I expect the shares to perform quite well over the next two or three years.
Uber's stock has doubled in the past year and is up 30% year to date, reflecting tremendous growth rates at scale. The company has announced a $7 billion buyback plan, indicating confidence in its profitability and cash flow generation. Uber plans to leverage AI and improve payment technologies to further increase cash flow and EBITDA margins.
The market has lifted growth tech stocks notably higher so far in 2024. Two great examples: Airbnb and Uber, which benefit from powerful network effects.
Moove, an African mobility fintech that offers vehicle financing to ride-hailing and delivery app drivers, has raised $100 million in a funding round as it plots expansion into new markets.
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