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  • Writer's pictureT. Livingston

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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Disclaimer: This information is issued solely for informational and educational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. None of the information contained in this post constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. From time to time, the content creator or its affiliates may hold positions or other interests in securities mentioned in this blog or the associated Twitter and Instagram feeds. The stock or stocks presented are not to be considered a recommendation to buy any stock or stocks. This material does not take into account your particular investment objectives. Investors should consult their own financial or investment adviser before trading or acting upon any information provided. Past performance is not indicative of future results.


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