Uber and Lyft have been locking New York City drivers out of their apps to avoid paying millions of dollars in pay, according to a report. Rideshare app drivers have been getting locked out of the two apps – with messages that flash "unable to go online" or tell drivers to go to a busier location – for minutes or hours at a time. The lockouts are an attempt to make Uber and Lyft drivers seem busier on paper – which could save the companies nearly $30 million in pay by convincing the city not to raise a key ...

Key Takeaways Shares of Uber and Lyft jumped on Friday after Tesla's introduction to its new robotaxi failed to live up to ridesharing investors' fears. Analysts noted Tesla's much-anticipated event was light on details about the rollout of a ridesharing app that would compete with Uber or Lyft, lifting an uncertainty that has hung over the stocks for months. Uber shares hit an all-time high, while Tesla slumped further into negative territory for the year. Shares of Uber Technologies (UBER) jumped to a rec ...

Tesla's Robotaxi Day could impact Uber Technologies, Inc.'s UBER stock performance and long-term valuation, as analysts see potential gains in Uber's network value from a growing autonomous vehicle market. If positive sentiment from the event boosts investor confidence, Uber may break through key resistance levels, creating opportunities for savvy traders. When a stock rises above resistance, traders call it a breakout. As you can see on the chart, Uber shares may be breaking out. This is why our team of tr ...

In this article LYFT UBER TSLA The Uber logo is seen in the rain in Krakow, Poland, on January 6, 2024. Klaudia Radecka | Nurphoto | Getty Images Tesla's hyped robotaxi unveiling posed a threat to Uber's ride-sharing aspirations, but it's turned into a boon for the stock instead. Uber shares had been falling on the initial investor excitement leading up to Thursday's event — particularly slumping in early August and mid-September — but surged more than 9% on Friday on renewed enthusiasm that the company is ...

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government. S ...

Uber Technologies, Inc. (NYSE: UBER ) is a global platform that allows people to book rides, order food, and transport goods easily. Despite its wide reach and essential services, the company's stock has remained steady over the past six Investing in high-growth opportunities across industries, employing a value investing approach that prioritizes robust business models and strategic foresight. Focusing on companies with the potential to profoundly influence the global landscape in the years aheadI primaril ...

Ride-hailing companies Uber Technologies, Inc. UBER and Lyft, Inc. LYFT are rising in premarket trading on Friday. The shares of Uber and its smaller peer Lyft were reacting to electric vehicle maker Tesla, Inc. TSLA announcing that a rival offering from its stable, the Cybercab, will go into production in 2026 or possibly even in 2027. If Tesla had been quick with a superior offering armed with its unsupervised self-driving technology, Uber and Lyft might have seen their market share erode. Ahead of the ev ...

As Tesla Inc TSLA gears up for its highly anticipated Robotaxi event on Oct. 10, the rideshare market is bracing for disruption. Tesla's event, expected to reveal a low-cost, fully autonomous vehicle (AV), has sparked concern among investors, particularly for companies like Uber Technologies Inc UBER and Lyft Inc LYFT. However, JPMorgan analyst Doug Anmuth remains confident in Uber's future, noting that it remains "well positioned in [the] AV ecosystem." Tesla's Disruption: Rideshare Under Pressure? Tesla's ...

Uber CEO Dara Khosrowshahi on Tuesday announced that the company is updating its platform with new sustainability-minded features, including an "EV preference" that will let customers opt for fully electric vehicles by default, whenever they hail a ride. The company previously launched an "Uber Green," service which has historically included a mix of battery electric vehicles, and hybrid electric models. Now, Uber can offer battery electric vehicles as the sole "green" option in more than 40 cities globally ...

Uber's EV and AI Initiatives - Uber is launching an AI assistant powered by OpenAI's GPT-4o for drivers in the US starting early 2025 to help with EV-related questions [1] - The AI assistant will initially focus on EV-related queries such as charging locations and vehicle recommendations, with potential expansion to other use cases in the future [2] - Drivers can access the AI assistant from the Uber driver app home screen, with continuous updates and personalized responses based on driver needs, city, and government incentives [3] - The AI assistant will support both text-based and voice interactions, with details on supported languages to be announced closer to launch [4] EV Mentorship Program - Uber is introducing an EV mentorship program where experienced EV drivers can earn cash rewards and incentives by mentoring new EV drivers [5] Uber Green and EV Expansion - Uber Green, available in over 180 markets, will now offer an EV-only option in 40 cities including New York City, Los Angeles, Paris, and Auckland [7] - Riders can set preferences in the Uber app to be matched with nearby EVs [7] Climate-Focused Updates - Uber's Go-Get event highlighted climate-focused initiatives, including new features to encourage EV adoption among riders and drivers [6]