Insightful Word
  • Investing
  • Stock
  • Economy
  • Politics
  • Investing
  • Stock
  • Economy
  • Politics
No Result
View All Result
Insightful Word
No Result
View All Result
Home Politics

It’s not just Tesla: self-driving regulations boost Uber stock too

admin by admin
November 29, 2024
in Politics
0
It’s not just Tesla: self-driving regulations boost Uber stock too
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

Tesla Inc (NASDAQ: TSLA) has rallied about 40% this month on hopes that Donald Trump will ease US self-driving rules as he’s sworn into office in January.

A recent Bloomberg report suggests he plans on making regulation of autonomous vehicles a top priority for the Department of Transportation.

But Tesla is not the only one that stands to benefit from such a significant policy change.

Another name that could emerge as a long-term beneficiary of Trump’s stance on self-driving vehicles is Uber Technologies Inc (NYSE: UBER), as per Evercore ISI’s head of internet research Mark Mahaney.  

How is self-driving a positive for Uber stock?

Increased focus on regulating self-driving technology under the Trump administration is anticipated to be a positive for Tesla as it’s been promising autonomous vehicles for years.

But Mark Mahaney is convinced that Elon Musk’s company is unlikely to be the only one to dominate the AV market. He expects Uber to emerge as the “ultimate demand aggregator” as it will eventually have robotaxis in its fleet.

“Uber is going to be a long-term positive derivative from this,” he told CNBC in a recent interview.

Mahaney dubs Uber stock his top large-cap pick and sees an upside in it to $120 indicating potential for another 65% upside from here.

Uber Technologies is under investigation

In related news, the ride-hailing giant is reportedly under investigation over allegations that its flagship subscription service violated the US consumer protection laws.

The Federal Trade Commission is looking into whether the company enrolled users into Uber One without consent and deliberately made it challenging for them to opt out of the subscription service.  

Nonetheless, Uber stock remains worth owning for the strength of its financials.

The multinational came in handily above Street estimates in its latest reported quarter as monthly active consumers on its platform climbed 13% year-on-year to 161 million.

Uber Technologies guided for $1.78 billion to $1.88 billion of adjusted EBITDA for its current quarter at the time – also in line with expectations. Nonetheless, Uber shares are down about 17% versus its recent high at writing.

Uber concerns are overstated

Uber stock has been under pressure in recent weeks because mobility bookings decelerated a bit in the company’s recently concluded quarter.

But Evercore’s Mahaney remains super bullish on the name as both concerns of robotaxis being a bane for Uber Technologies as well as a further decline in mobility bookings are “overstated”.

He expects Uber to secure more deals like the one it already has in place with Waymo to emerge as a “winner of robotaxis”.

Easier comparisons and product innovation will help the company stabilize its growth rates into the next year, Mahaney added.

Uber shares do not, however, pay a dividend in writing.

The post It’s not just Tesla: self-driving regulations boost Uber stock too appeared first on Invezz

Previous Post

UK home sales and prices set to soar ahead of April stamp duty changes

Next Post

Adani Green Energy rises 19% as stock rebounds from US indictment turmoil

admin

admin

Next Post
Adani Green Energy rises 19% as stock rebounds from US indictment turmoil

Adani Green Energy rises 19% as stock rebounds from US indictment turmoil

Trending News

Sony considers acquiring Kadokawa: what’s driving the talks?

Sony considers acquiring Kadokawa: what’s driving the talks?

November 19, 2024
Here’s how Trump tariffs were calculated and why experts are raising concerns with the methodology?

Here’s how Trump tariffs were calculated and why experts are raising concerns with the methodology?

April 3, 2025
Dow Futures plunge 300 points: 5 things to know before Wall Street opens today

Dow Futures plunge 300 points: 5 things to know before Wall Street opens today

July 11, 2025
Subscribe to Insightful Word


    Recent News

    The Labubu craze: identity, status, and a ₹1.2 crore toy

    The Labubu craze: identity, status, and a ₹1.2 crore toy

    August 6, 2025
    US stocks open in the green as earnings drive stock moves: Nasdaq up 0.3%

    US stocks open in the green as earnings drive stock moves: Nasdaq up 0.3%

    August 6, 2025
    Apple to invest $100B more in US manufacturing amid tariff threats

    Apple to invest $100B more in US manufacturing amid tariff threats

    August 6, 2025
    Is Archer Aviation a good eVTOL stock to buy today?

    Is Archer Aviation a good eVTOL stock to buy today?

    August 6, 2025

    Recent News

    The Labubu craze: identity, status, and a ₹1.2 crore toy

    The Labubu craze: identity, status, and a ₹1.2 crore toy

    August 6, 2025
    US stocks open in the green as earnings drive stock moves: Nasdaq up 0.3%

    US stocks open in the green as earnings drive stock moves: Nasdaq up 0.3%

    August 6, 2025

    Latest News

    • The Labubu craze: identity, status, and a ₹1.2 crore toy
    • US stocks open in the green as earnings drive stock moves: Nasdaq up 0.3%
    • Apple to invest $100B more in US manufacturing amid tariff threats

    About Insightful Word

    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools
    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools

    Copyright © 2025 Insightfulword.com. All Rights Reserved.

    No Result
    View All Result
    • Investing
    • Stock
    • Economy
    • Politics

    Copyright © 2025 Insightfulword.com. All Rights Reserved.