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Tag: NYSE: UBER

  • Uber Stock (NYSE:UBER) Soars After Securing Prop 22 Win

    Uber Stock (NYSE:UBER) Soars After Securing Prop 22 Win

    Shares of Uber Technologies, Inc. (NYSE:UBER) traded up 10.57% in the pre-market trading session after the company won the most expensive ballot contract in history. California voters have supported the ballot proposal by Uber and its allies.

    The measure is known as ‘Proposition 22’ which addressed the rights of app-based drivers. It was supported by some of the most powerful tech companies and became the most expensive and important campaign in state history. Lyft, Uber, Instacart, Postmates, and DoorDash have invested more than $205 million in the campaign. Some transport companies earlier decided that they would close their services in California if they lost.

    But they all secured the major victory today. After the approval of Proposition 22, app-based drivers are now independent contractors, not employees or agents. This proposition will also address the new wage policies specific to app-based drivers and companies.

    58.35% of Californians have voted in favor of proposition 22, and 41.65% of voters were against the proposition. Transport companies disclosed that this new move will help app-based drivers to choose when and how they work.

    This new initiative helps app-based drivers to provide delivery services through an online application of business. They will be allowed to use a personal vehicle to give prearranged transportation services for compensation via a business’s online-enabled application or platform.

    Uber, Lyft, and DoorDash have invested $30 million into campaign accounts to fund a ballot initiative on August 30, 2019. Opponents of this new proposition said that the new move will exploit the right of the workers. Companies are trying to avoid the employee-related costs that could cost $392 million to Lyft and Uber.

    Uber Technologies, Inc. (NYSE: UBER) shares were trading up 11.97% at $40.05 at the time of writing on Wednesday. Uber Technologies, Inc. (UBER) share price went from a low point around $13.71 to briefly over $41.86 in the past 52 weeks. UBER market cap has remained high, hitting $63.91 Billion at the time of writing.

  • Stocks to Watch for Quick Gains This Week

    Stocks to Watch for Quick Gains This Week

    The markets are doing well today, but there are stocks that are doing extraordinarily better than the rest of the market. By following market momentum, one can make good money with these stocks today. Some of the stocks that are gaining incredible momentum this afternoon are as below:

    Oxbridge Re Holdings Ltd [NASDAQ: OXBR]

    This is one of the stocks that have benefited immensely from the increased bullish sentiment in the equity markets.  The stock has seen a massive increase in buying sentiment, and short volumes are on a decline. If this trend continues, OXBR could test $6 today, or within the week.

    It is one of the stock’s that offers investors an opportunity for huge gains this week. So far, it’s up by over 200%, and anyone who got in earlier in the day is in big gains. Since there is no news, the move is purely speculative, and investors need to keep an eye on short action. As long as short volumes remain low, upside momentum is likely to remain dominant.

    Virgin Galactic Holdings Inc [NYSE: SPCE]

    This is another big mover this afternoon and looks set for more gains all through the day and possibly through the week. While there is no specific news about it, this stock, is riding on sentiment by Bank of America analysts that it could double in value. The analysts are counting on the fact that it has a unique market, and that it is well prepared to tackle the needs of this market.

    The analysts have argued that while the business has not yet commenced operations, its potential growth in the space market is limitless. This validation has seen investor interest in this stock grow. As excitement around this stock grows, shorts could decline and see its value rally to new highs within the week. It’s an interesting stock to watch for investors chasing massive gains in a short time.

    Uber [NYSE: UBER]

    Uber is another interesting stock to watch today, and all through the week. While the stock has not yet pumped, there is potential that it could start recording massive gains. This follows news that the company had been given the green light to continue operating in London.

    London is one of the largest markets for cab-hailing services and being denied the license was a huge blow to the company. As this news filters into the market, the stock is likely to record major gains short-term.