Why Is Uber (UBER) Stock Rocketing Higher Today

What Happened?

Shares of ride sharing and on-demand delivery platform Uber (NYSE:UBER) jumped 7.2% in the afternoon session after the company announced it is expanding its autonomous ride-hailing services with Waymo to Atlanta. 

The move extends the partnership where Uber app users can be matched with a fully autonomous Waymo vehicle, a service already active in Austin. This expansion into a 65-square-mile area of Atlanta signals progress in Uber's strategy to integrate autonomous technology into its platform, a key area for future growth. 

The news comes as competition in the self-driving space heats up, with Tesla recently launching its own robotaxi service. Investor optimism was also buoyed by positive analyst sentiment regarding Uber's potential in AI and its path to sustained profitability.

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What The Market Is Telling Us

Uber’s shares are very volatile and have had 20 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The biggest move we wrote about over the last year was 11 months ago when the stock gained 9.5% on the news that the company reported decent earnings.

On the other hand, its revenue growth regrettably stalled, although adjusted EBITDA beat expectations by a healthy amount. Guidance was also mixed, with Q3 revenue guidance slightly below but adjusted EBITDA was in line. Zooming out, this was still a decent, albeit mixed, quarter, showing the company is staying on track.

Uber is up 45.8% since the beginning of the year, and at $92.13 per share, it is trading close to its 52-week high of $92.46 from May 2025. Investors who bought $1,000 worth of Uber’s shares 5 years ago would now be looking at an investment worth $3,025.

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