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Regulators in Taiwan blocked Uber Technologies' (UBER) planned $950 million purchase of Singapore-based online food delivery and ordering platform Foodpanda, The Wall Street Journal reported Thursday.
Uber Technologies Inc (NYSE:UBER) stock is down 0.2% at $61.58 at last glance, after Taiwan's Fair Trade Commission (FTC) blocked the acquisition of food delivery business foodpanda, which is owned by Germany's Delivery Hero.
Uber shares offer an attractive investment opportunity, following a nearly 30% decline from their all-time highs in mid-October. In my opinion, the market is currently too pessimistic, overly focused on the narrative that autonomous vehicles and robotaxis will soon replace traditional ride-hailing services. When looking beyond this narrative, Uber remains an exciting growth story with increasing profitability and cash flow.
Taiwan has rejected ride-hailing giant Uber's plan to buy Delivery Hero's Foodpanda on the island, stating on Wednesday that the deal would significantly harm market competition.
Uber's (UBER 1.88%) stock hit an all-time high of $86.34 on Oct. 11. That marked a 92% gain from its IPO price of $45.
Goldman Sachs senior US internet sector equity research analyst Eric Sheridan believes the tech industry is in good hands with 2025 just on the horizon. His top pick for 2025 and large-cap stocks, in fact, is rideshare giant Uber Technologies (UBER).
I have transitioned from a bearish stance to bullish on Uber, seeing it as a fascinating buy due to valuation contraction and clearer 2025 outlook. In my view,Uber is well-positioned to dominate the rideshare industry, supported by strong partnerships, a growing user base/membership platform, expanding global markets, and a 4.7% free cash flow yield. Uber's vast data collection enhances its value, offering insights into consumer behavior, making it more than just a rideshare or delivery app.
Uber (UBER) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
Uber Technologies (UBER 0.86%) and its industry-leading mobility platform went public in 2019 at a price per share of roughly $45. At the time, it had an operating loss of over $4 billion annually.
Uber Technologies (UBER 0.86%) has defined the ride-hailing industry. The company is the dominant ride-hailing company in the United States and operates in 70 countries worldwide.
UBER's strong platform and AV partnerships, including potential with Tesla, position it well in the robotaxi market despite investor concerns. The current stock price drop is seen as a buying opportunity due to UBER's underappreciated AV market value and supply demand dynamics. Gross bookings deceleration is not alarming; 24% growth remains impressive for UBER's size, and past high-growth rates skew current comparisons.