Shares of Uber (UBER) and Lyft (LYFT) surged on Oct. 11, 2024, following Tesla's (TSLA) not-so-exciting robotaxi event, which failed to meet expectations, raising concerns among ridesharing investors. Uber shares jumped 10.8% on that day, LYFT stock jumped 9.6%, while Tesla shares slumped 8.8%. Tesla's robotaxi service is comparable to the taxi services offered by Uber and Lyft. A robotaxi is a self-driving car that operates as a taxi in an e-hailing service, and passengers can request them via a smartphone ...

Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. Whi ...

Key Takeaways Uber shares lost ground Monday but are still near record highs after investors saw little threat to rideshare companies from Tesla's highly anticipated robotaxi unveiling last week. A chart-based price target using the measuring principle projects a potential move up to $93, an area where investors may decide to lock in profits. Investors should watch important support levels on Uber's chart around $81, $74, and $68. Shares in Uber Technologies (UBER) lost ground Monday but were still near rec ...

Uber shares jumped based on the event, but a showdown is coming. After a long wait, Tesla (TSLA -8.78%) finally debuted its robotaxi on Thursday night. CEO Elon Musk arrived on the Warner Bros. soundstage in Burbank, California, as a passenger in the robotaxi, which he calls a Cybercab. It comes without a steering wheel or pedals, making it a strictly autonomous vehicle (AV). Musk said the vehicle would allow for unsupervised full self-driving (FSD), differentiating it from the supervised FSD he often refer ...

Uber Technologies (UBER) shares ended the last trading session 10.8% higher at $86.34. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 14.4% gain over the past four weeks. The uptick was owing to Tesla's (TSLA) disappointing Robotaxi event. The event failed to excite investors due to the lack of detail provided by TSLA on its latest full self-driving technology advancements. TSLA's failure to provide insight on its ...

Uber Technologies Inc. (NYSE: UBER) saw its stock surge by 10.81% on Friday, closing at $86.34. This unexpected rise followed Tesla's (NASDAQ: TSLA) much-anticipated robotaxi reveal, which had initially raised concerns among investors about potential competition in the ride-hailing business. However, with Tesla's plans lacking concrete timelines, Uber benefited from the event, pushing its stock to a 52-week high, up nearly 43% year-to-date. This momentum, combined with strategic initiatives, has left invest ...

Key Takeaways The S&P 500 added 0.6% on Friday, Oct. 11, reaching an all-time closing high following softer-thanexpected wholesale inflation data. Tesla stock lost ground after the carmaker's highly awaited robotaxi event failed to impress investors. The lukewarm reaction helped lift shares of Uber and its ridesharing peers. Bank earnings season got underway, with shares of Wells Fargo and JPMorgan advancing after the financial giants released strong results. Major U.S. equities indexes ticked higher during ...

Uber and Lyft have been locking New York City drivers out of their apps to avoid paying millions of dollars in pay, according to a report. Rideshare app drivers have been getting locked out of the two apps – with messages that flash "unable to go online" or tell drivers to go to a busier location – for minutes or hours at a time. The lockouts are an attempt to make Uber and Lyft drivers seem busier on paper – which could save the companies nearly $30 million in pay by convincing the city not to raise a key ...

Key Takeaways Shares of Uber and Lyft jumped on Friday after Tesla's introduction to its new robotaxi failed to live up to ridesharing investors' fears. Analysts noted Tesla's much-anticipated event was light on details about the rollout of a ridesharing app that would compete with Uber or Lyft, lifting an uncertainty that has hung over the stocks for months. Uber shares hit an all-time high, while Tesla slumped further into negative territory for the year. Shares of Uber Technologies (UBER) jumped to a rec ...

Tesla's Robotaxi Day could impact Uber Technologies, Inc.'s UBER stock performance and long-term valuation, as analysts see potential gains in Uber's network value from a growing autonomous vehicle market. If positive sentiment from the event boosts investor confidence, Uber may break through key resistance levels, creating opportunities for savvy traders. When a stock rises above resistance, traders call it a breakout. As you can see on the chart, Uber shares may be breaking out. This is why our team of tr ...