Uber Prepares For Paris Olympics With Free Cruises And Discounts
Portfolio Pulse from Shivani Kumaresan
Uber Technologies Inc. (NASDAQ:UBER) is preparing for the Paris Olympics with initiatives like free Seine river cruises, champagne tasting trips, and significant investments in driver incentives and rider discounts. The company aims to accommodate over 15 million visitors and expects to have a record 40,000 drivers available. Uber has secured approval from the Préfecture de Police for its app and will provide updated maps and routing information. The stock has gained over 69% in the last 12 months.
May 29, 2024 | 1:40 pm
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POSITIVE IMPACT
The Fidelity Electric Vehicles And Future Transportation ETF (BATS:FDRV) offers another way for investors to benefit from Uber's expected growth during the Paris Olympics.
Uber's inclusion in the FDRV ETF means its positive performance during the Paris Olympics could enhance the ETF's value.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Investors can gain exposure to Uber's potential growth during the Paris Olympics through the IShares U.S. Transportation ETF (BATS:IYT), which includes Uber in its portfolio.
As Uber is a component of the IYT ETF, its positive performance during the Paris Olympics could benefit the ETF's overall value.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Uber is launching new services and investing heavily in driver incentives and rider discounts to handle the surge in demand during the Paris Olympics. The company expects to have a record 40,000 drivers and has secured necessary approvals for smooth operations.
Uber's initiatives and investments are likely to boost its service quality and customer satisfaction during a high-demand period, potentially driving up stock prices in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100