Should You Buy Shares of UBER as We Head into 2021?

Uber Technologies, Inc. (UBER), famous for its ride-hailing services, develops and operates proprietary technology applications. The company operates in two segments: Core Platform and Other Bets. Its food delivery services UberEats and UberFreight have become widely popular since the onset of the pandemic…

The company had an IPO in May of 2019, and it’s stock price fell for the remainder of the year.  In March of 2020, when the markets tanked due to the onset of the coronavirus, shares of UBER fell to an all-time low of $13.71.  However, the company has been on a growing path since then, and has gained about 19% year-to-date. This impressive recovery and potential upside based on a number of factors have helped the stock earn a “Buy” rating in our proprietary POWR Ratings system.

Expanding into food delivery and freight services, the company has managed to stay afloat and is set on a growth path despite the controversy regarding preserving the status of gig-economy drivers as independent contractors rather than employees.

Here is how our POWR Ratings system evaluates UBER:

Trade Grade: A

UBER is currently trading above its 200-day moving averages of $32.34, indicating an uptrend. Moreover, UBER has gained…

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