Uber has been having a rough time within the stock market. The companies IPO was only published publically less than a month ago and has seen some straggling numbers that left investors wary of buying.
The Background On Ubers Stocks
As of so far, Uber has minimal history. The relatively young company just recently went public with its IPO. Stocks did well for the first week as shares were sold at a rapid-fire pace. This would seem like a wonderful thing, but the quickness of shares being sold stopped nearly immediately.
The stocks fell in value and experts held conflicting arguments over whether the company would pull through or fall harder.
Uber Struggling With Competition
While uber is considered unique and a ‘unicorn’ in the stock market world, the ride-sharing app is not one of a kind. Uber currently has plenty of competition which was and is hurting the business and their stock values.
As written on kevbest, “Uber has attributed their recent financial struggles to the growing competitive pressures in the ride-sharing market. In addition, the growth in popularity for Uber Eats and the costs associated with signing up drivers to the platform has taken its toll on Uber’s profitability.”
Uber Now Beginning To Rise Again
Despite the challenges faces by overpopulation on the ride-sharing niche and competition, Uber is recovering decently from the harsh fall. UberEats has helped the company of Uber impressively. Although this is the case, Ubereats has also harmed the companies revenue since Uber does not make much money off of the deliveries.
Uber stock numbers are looking to positive. As of the last closing, Ubers highest value for a stock was 41.57%, very close to the closing percentage of 40.41. While these numbers may not seem exciting for analysts hoping to make a decision, the closing increased generally in comparison to the previous closing.