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Uber Stock Falters After Taiwan Blocks Acquisition
UBERUber(UBER) Schaeffers Investment Research·2024-12-26 15:09

Uber Technologies Inc (NYSE:UBER) stock is down 0.2% at 61.58atlastglance,afterTaiwan′sFairTradeCommission(FTC)blockedtheacquisitionoffooddeliverybusinessfoodpanda,whichisownedbyGermany′sDeliveryHero.Officialssaidthebuyoutcouldhaverestrictedcompetitionintheregion.Despitethissnub,UBERisstillontrackforaweeklygainandhassupportfromthe61.58 at last glance, after Taiwan's Fair Trade Commission (FTC) blocked the acquisition of food delivery business foodpanda, which is owned by Germany's Delivery Hero. Officials said the buyout could have restricted competition in the region.Despite this snub, UBER is still on track for a weekly gain and has support from the 60 level. The shares carry a 19.8% year-to-date deficit, though, and have not closed above their 30-day moving average since l ...