Uber Technologies shares are trading lower. The company may be moving lower after Elon Musk posted on social media that Tesla will unveil the Tesla Robotaxi on August 8th, 2024.
Portfolio Pulse from Benzinga Newsdesk
Uber Technologies' stock is trading lower following Elon Musk's announcement on social media about Tesla's plan to unveil the Tesla Robotaxi on August 8th, 2024. This development could potentially impact Uber's market share and future profitability.
April 08, 2024 | 2:21 pm
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Uber Technologies' stock is trading lower due to potential competition from Tesla's upcoming Robotaxi, which could impact its market share and profitability.
The announcement of Tesla's Robotaxi directly impacts Uber by introducing a potential future competitor in the autonomous vehicle space, which could lead to a decrease in Uber's market share and profitability. This news has led to a decrease in Uber's stock price as investors reassess the company's future growth prospects in light of this new development.
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