uber
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Losses decreased, as earnings per share came in at a loss of 62 cents, versus 1.22 cents a year earlier.Revenue beat estimates coming in at $8.35 billion, compared to analyst estimates of $8.14 billion.Uber continues to do well across various geographiesUber (NYSE:UBER), continued to struggle with operational costs despite revenue surging by 72% on the back of strong demand for the rail-hailing company. The stock rallied 15% into the market open on the back of the news. Uber’s main ride-hailing business has strong growth stemming from rising prices. Q3 2022 hedge fund letters, conferences and ...
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Despite being a very controversial choice, we believe Uber stock is still a great investment and have bought more on its way down. Here’s why. Uber Technologies Inc (NYSE:UBER) is the second most controversial stock we’ve ever owned (first place goes to Softbank). Most people have used Uber’s service, and thus everyone has an opinion and the media loves writing articles about Uber. The company has a history of not making any money. I’ve written a long research piece on why Uber, despite (or maybe because of) being a controversial company, has the makings of being a terrific long-term investmen...
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Uber Puts Profit Over The Lives Of WorkersThe story these documents reveal is horrific: Uber appears to have encouraged drivers to put themselves in dangerous situations when it benefitted their bottomline. A former executive even said “Violence guarantees success,” about the risk to drivers’ lives when Uber was facing backlash against the company’s aggressive expansion abroad. Q2 2022 hedge fund letters, conferences and more Find A Qualified Financial AdvisorFinding a qualified financial advisor doesn't have to be hard. SmartAsset's free tool matches you with up to 3 fiduciary financial advis...
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“These losses are primarily due to Uber’s aggressive pricing strategy to gain market share,” alludes MoneyTransfers CEO, Jonathan Merry. He further suggests, “That strategy led it to give away rides at much lower prices than its competitors while it incurred huge costs on marketing. Moreover, the company also spent heavily on driver subsidies, increasing its market share and net revenue from fares declined.” Q1 2022 hedge fund letters, conferences and more Is Uber Turning The Corner?Despite the loss-making trend, 2021 provides a gleaner of hope for the firm’s turnaround. According to Uber’s fi...
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Don’t let the title deceive you. Ryan Graves didn’t build his wealth through a ride-sharing side hustle. Rather, it was a tweet. Let’s go all the back to January 5, 2010. At the time Uber was less than a year old. And, then CEO Travis Kalanick tweeted: “Looking 4 entrepreneurial product mgr/biz-dev killer 4 a location based service.. pre-launch, BIG equity, big peeps involved—ANY TIPS??” Q1 2022 hedge fund letters, conferences and more In response to Kalanick’s tweet, Graves replied: “Here’s a tip. email me :)”. Graves, wisely, also included his email address. “I was hitting Craigslist, Twitte...
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If you thought ride-hailing app Uber (NYSE:UBER) was going to deliver the stock market from the horrendous start to the years it’s had, think again. The likes of Apple (NASDAQ:AAPL) and Microsoft (NASDAQ:MSFT), who both reported solid numbers last week, were unable to stem the flow of selling, and the company at the forefront of travel tech isn’t about to either. Not for now at least. If anything, Uber risks becoming the latest victim of 2022, which has seen growth and tech stocks suffer their worst start to the year in decades. A cacophony of soaring inflation, slowing growth, and rising inte...
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“The labour crunch has turned from a headache into a severe migraine for Lyft as it faces an uphill battle in the big fight to attract drivers back into its ranks. Lyft’s Labor Cost IssueAs demand for ride hailing services fell off a cliff during the pandemic, some of its most reliable recruits got out from behind the wheel and found new positions in other sectors. With hospitality also starved of staff as the economy re-opened it’s become tough to attract drivers back without the lure of bigger incentives. Instead of being seen as a nimble player using tech efficiencies to streamline costs, L...
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Last month, an Afghan refugee named Ahmad Fawad Yusufi was murdered in San Francisco while driving for Uber. He leaves behind his wife and three children, one of whom is 4 months old. Ahmad lived in Sacramento, and was only in San Francisco to drive for Uber. Ahmad commuted weekly to SF for several days in search of rides, sleeping in his car because his wages from driving couldn’t afford him a hotel room. Q3 2021 hedge fund letters, conferences and more Uber told local press he wasn’t working at the time, shirking responsibility to Ahmad’s surviving family. They are now reliant solely on GoFu...
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Today the Markup published a story documenting Uber offering a driver in Atlanta $1,000 to keep quiet about his car getting carjacked by an Uber customer. They offered him the money on condition that he won’t sue them in the future. Q2 2021 hedge fund letters, conferences and more This is the first ever reporting of the existence of these payment offers to drivers to keep quiet. Uber Drivers Are Forced To Assume The Risk Of CarjackingHere’s Gig Workers Rising statement on this: “Because of Uber’s business model, when drivers accept a ride they are forced to assume all risk - they have no guara...
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