The rise in short interest for Uber indicates that investors may be expecting the stock price to decline, which could lead to short-term negative pressure on the stock. However, since the short interest is below the peer average, the bearish sentiment is not as strong as it could be, which may limit the downside. The importance is moderate because short interest is just one of many factors that can affect stock prices, and the confidence reflects the uncertainty inherent in using short interest as a sole predictor of stock movement.