As seen on the 24/7 Wall St. homepage on July 24, 2026.
Uber hits $65.94, down nearly 4% from its June peak as the rideshare giant contends with mounting profit pressures and regulatory friction.
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The autonomous vehicle spending push is being funded from strength: gross bookings expanded 24% year over year to $58.02 billion even with both lines missing expectations. Delivery led, and Q3 guidance calls for non-GAAP EPS of $0.84 to $0.88.
Chip stocks led Tuesday's close with AMD and ON Semiconductor jumping over 8% and 7% respectively, while consumer plays like Uber and Expedia stumbled.
Travel and fintech stocks surge at the close as Expedia and Affirm lead gainers, while crypto miners and Navitas Semiconductor crater on heavy selling.
Uber shares are rocketing higher as investors ride optimism around upcoming earnings from industry peers in the broader travel sector.