Why Uber Rallied Double-Digits in April
Shares of Uber Technologies (NYSE: UBER) rallied 11.2% in April, according to data from S&P Global Market Intelligence, vastly outperforming the broader S&P 500 index, which was down 0.7% in a highly volatile month. After the shock of the April 2 "Liberation Day" tariff announcements, many stocks sold off. However, Uber managed to recover, as the company made several announcements with autonomous driving companies, and late in the month, its CEO said the company wasn't seeing signs of recession.Coming into this year, some had worried how Uber might fit in to the autonomous driving future. Waymo usage is currently on the rise in California and Austin, and Tesla aims to launch its autonomous robotaxi service next month. Uber does own some 23.5% of autonomous trucking technology company Aurora, but other than that, it doesn't have in-house autonomous technology anymore. Continue reading
Shares of Uber Technologies (NYSE: UBER) rallied 11.2% in April, according to data from S&P Global Market Intelligence, vastly outperforming the broader S&P 500 index, which was down 0.7% in a highly volatile month.
After the shock of the April 2 "Liberation Day" tariff announcements, many stocks sold off. However, Uber managed to recover, as the company made several announcements with autonomous driving companies, and late in the month, its CEO said the company wasn't seeing signs of recession.
Coming into this year, some had worried how Uber might fit in to the autonomous driving future. Waymo usage is currently on the rise in California and Austin, and Tesla aims to launch its autonomous robotaxi service next month. Uber does own some 23.5% of autonomous trucking technology company Aurora, but other than that, it doesn't have in-house autonomous technology anymore.
