Trade Alert

Buying more Uber stock on this dip?

_{Posted by Club Member Gentleman Hans 3.8.23}

Uber fell after reporting earnings, the stock swung almost -10% following the earnings announcement.

That said, taking a step back, Uber is only down 2.17% over the past 5 trading days, so perhaps, we are seeing a pullback because the stock had run up so much heading into earnings.

Which brings me to my next point, I actually thought the quarterly report was good! Uber missed slightly on revenues ($9.23B vs $9.33B expected), but earnings per share of 18 cents came in well above street expectations of a loss of 1 cent!

Uber also achieved two major milestones during the quarter: Its first quarter of free cash flow over $1B, and its first GAAP operating profit!

Guidance for the next quarter was also higher than the market’s forecast. So, overall I would call it a good earnings report. I think the markets overreacted to the top line missed, I’m even considering buying this dip in Uber.

Does anyone have a different read on Uber’s post earnings selloff?

#Uber #Trade Update #Questions #New Ideas

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