Uber's Stock Hit by Negative Sentiment Despite Solid Bookings

about 1 month ago

Nathan Hager

"There's another stock crossing the wire—Uber coming out. UB is your ticker. Shares plummeting now 5% as we are speaking. Again, this comes after their third quarter results where their gross bookings actually seem to be coming in kind of in the range that was expected at least for the fourth quarter. So, it's unclear what's driving this stock lower at the moment, but it might just be a sentiment thing. It feels like if you are a tech stock this morning, you are getting punished. Good earnings or not."

Uber's shares are down 5% despite meeting earnings expectations, indicating that broader market sentiment is negatively impacting tech stocks.

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