There were several businesses whose growth came to a standstill and even went down because of the coronavirus pandemic. The pandemic, however, is still not slowing down and the risk of the spread of the virus is quite high. The news of vaccines has brought some good news but how its impact will be, no one can be very sure about this fact.

Therefore, this situation is still speculative for certain stocks, whose growth is dependent on the pandemic. Let us discuss Uber Technologies Inc. (NYSE: UBER). The stocks of this company which is famous for its food delivery service and ride-sharing service had to incur losses this year because of the pandemic. The lockdown imposed at various locations worldwide to curb the spread of the virus had completely stopped the traveling and food deliveries for some time. This was the time when these companies had almost no income. The situation somewhat improved after the lockdowns got opened but people were still scared of the virus and hence, the company could barely cover up its loss.

Uber Stock this Year

The sales of this company fell by 18% this year. Also, the loss of the company per share has come out to be 62 cents. The situation has improved and the stocks have surged up a little but the occasional ups and downs of the stock continue.

 Uber Technologies Inc. (NYSE: UBER) 

  • 52 Week Range: $13.71 – $56.02
  • Average Volume: 21,098,443
  • Market Capital: $91.363B
  • Forward Dividend and Yield: N/A (N/A)

The Major Competitor of Uber Technologies Inc. (NYSE: UBER): Lyft Inc. (NASDAQ: LYFT)

Since both the companies offer the ride-sharing service, therefore, they are major rivals in this field. Similar to Uber, Lyft is also coping with the losses that it incurred during the lockdown period and its stocks have risen lately. Therefore, it also stands at almost the same pace as Uber and little variation.

Lyft Inc. (NASDAQ: LYFT)

  • 52 Week Range: $14.56 – $54.50
  • Average Volume: 10,914,098
  • Market Capital: $15.848B
  • Forward Dividend and Yield: N/A (N/A)

Should you invest in Uber Stock Right Now?

As of now, Uber stock does not look like a very preferable choice to put money in. This is because the future is uncertain due to the pandemic. After the news that a new strain of coronavirus has been discovered has surfaced up, the threat has increased even more. Therefore, an investment in the stocks of Uber becomes quite risky. However, the company has shown some positive growth recently and if the situation remains normal in the future, the company can steadily grow and earn profits. If an investor keeps the growth of the company in mind, then an investment might sound good but if we consider all the factors, then definitely, there is a risk.

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