Uber, Lyft stocks jump on heels of Tesla robotaxi event

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Uber And Lyft News

Rohit Kulkarni

Tesla (TSLA) stock is sliding following its robotaxi event, which failed to impress investors with its Cybercab offering. This has sent other rideshare...

Kulkarni notes that the anticipation for Tesla's event was"an overhang" on Uber and Lyft stocks. He explains that the main investor question has been: If Teslawhat happens to Uber and Lyft? This concern has grown"louder and louder over the last 3-6 months.

So they have been working on this for many more years than what Tesla has been working on and they have uh proven out uh what uh uh a robot taxi business could look like as far as profitability is concerned, it still is a very very distant future um possibility.Uh Uber has partnered with way more uh because at the end of the day, getting this uh product in front of consumers is also a big cost for some of these companies.

So I think next year's story in terms of positive surprises from a cash flow or a profitability standpoint is going to come from, advertising is going to come from subscriptions where these become habituated. So, yes, it is not just a big city, New York phenomenon, but it is starting to slowly expand in various parts of us, probably more in Europe as well, which is a structural positive for these companies.A university spokesperson declined to say whether Phillip Lowcock, a health sports and exercise instructor who joined KU in 1993, left his position voluntarily or was fired.

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Uber and Lyft gain on Tesla Cybercab miss, Big Bank earnings: Yahoo FinanceUber (UBER) and Lyft (LYFT) stocks surge after Tesla’s (TSLA) Cybertaxi event failed to impress investors. The three major indexes (^DJI,^GSPC, ^IXIC) are...
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