Uber Stock Falters Despite Quarterly Win, Upbeat Forecast

The equity still sports a 98% year-over-year lead, however

Digital Content Manager
Feb 7, 2024 at 10:16 AM
facebook X logo linkedin

Uber Technologies Inc (NYSE:UBER) is brushing off a top- and bottom-line beat for the fourth quarter, last seen down 1.9% at $69.10. Uber also issued an upbeat current-quarter forecast amid stronger demand for its ride sharing and food delivery services, and had its first full-year operating profit as a listed company.

Though the shares are now on track to snap a four-day win streak, they are up 98% in the last 12 months, and early in the session notched an all-time high of $70.68. The equity also relies on long-time support from the 40-day moving average, which contained a January pullback.

Options volume is today running at six times the intraday average, with 96,000 calls and 56,000 puts exchanged so far. Most popular is the weekly 2/9 70-strike call, but positions are opening at the March 62.50 put.

Short-term options traders lean bullish. This is per Uber Technologies stock's Schaeffer's put/call open interest ratio (SOIR), which stands higher than only 12% of annual readings. The brokerage bunch echoes that optimism, with 36 of 38 firms in coverage sporting a "buy" or better rating.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI