3 Reasons to Buy Uber Stock Like There's No Tomorrow
The stock hasn't been a great performer lately, but it's difficult to find a reason why.
Has the market's recent setback got you a bit rattled? It's understandable if it does. The severity and speed of this year's sell-off have been unusual, and it caught plenty of people off guard. As veteran investors can attest, however, times like these tend to turn out to be fantastic buying opportunities for the long term.
So if you're on the hunt for a new stock pick now, take a look at ride-hailing outfit Uber Technologies (NYSE: UBER). There are three big reasons why you might want to add it to your portfolio sooner than later.
On the off-chance you're reading this and aren't aware, Uber's primary business is connecting people who need a ride with drivers willing to take them where they need to go. From a distance, it might look like a conventional taxi company. It's not, though. Its drivers aren't employees working on a set schedule. They're contractors who work when and where they like, using their own vehicles to ferry passengers. In many ways, the ride-hailing business Uber pioneered has democratized and de-monopolized the taxi industry.
