UBER-Waiting For A Ride
You've most likely used an Uber over the past year to get you to where you needed to be. While the idea of getting in a car with a total stranger might have seemed odd years ago, it is now quite common. The rideshare industry has been a gamechanger for many people as it has totally altered how they think about traveling. This is one of the characteristics I look for in a potential leader. Companies that have the ability to revolutionize the lives of millions around the globe are likely to deliver strong earnings and sales. This is often a catlyst for funds and institutions to begin purchasing a stock.
Uber has not made much progress since its' IPO in 2019. However, things have really started to pick up over the last year. 2023 is estimated to be Uber's first profitable year since 2018, and 2024 is estimated to be even stronger. In addition, earnings were up 114% last quarter with sales growing at 14%. Most importantly, UBER has been one of the strongest performing stocks this year. It very well may be the case that institutions and funds are starting to believe in Uber and are looking to jump upon it for a ride. I will be closely monitoring Uber in the coming days for a potential entry point.
Risk right. Sit tight.
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