Why Uber Bounced Back Today
Shares of ride-hailing leader Uber Technologies were rallying today, up 5.8% as of 3:39 p.m. ET. While the overall markets were also having a good day in the wake of the Trump administration backing down from its most maximal tariff posture, Uber outperformed, with a return of more than twice that of the Nasdaq Composite. Uber shareholders received good news, as the company inked another high-profile partnership in the emerging autonomous robotaxi world.One of the big overhangs for Uber is whether it will have as much value as a platform for autonomous vehicles as it had for human-driven cars. After all, the dynamics are different for each, with Uber perhaps losing a bit of its powerful network effect without human drivers on one side of its platform. Continue reading
Shares of ride-hailing leader Uber Technologies were rallying today, up 5.8% as of 3:39 p.m. ET. While the overall markets were also having a good day in the wake of the Trump administration backing down from its most maximal tariff posture, Uber outperformed, with a return of more than twice that of the Nasdaq Composite.
Uber shareholders received good news, as the company inked another high-profile partnership in the emerging autonomous robotaxi world.
One of the big overhangs for Uber is whether it will have as much value as a platform for autonomous vehicles as it had for human-driven cars. After all, the dynamics are different for each, with Uber perhaps losing a bit of its powerful network effect without human drivers on one side of its platform.