5 months ago

Uber’s real threat isn’t from robots

Uber has been on a particularly wild ride over the past month. Tesla’s third-quarter earnings call two weeks later seemed to revive those fears, though, as Elon Musk said the company plans to roll out a ride-hailing service in California and Texas next year. Uber’s stock has shed about 15% from its high point after the Tesla event, with last week’s earnings report sparking the stock’s single worst day in two years. “There’s always a wall of worry,” wrote Bernstein analyst Nikhil Devnani in a report on Uber after last week’s results. Wall Street isn’t panicking, though; 85% of analysts covering the stock rate Uber as a “buy,” according to FactSet.

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