Uber shares dumped on earnings earlier this week but stormed back the following day and continued higher today. This certainly won't hurt.
The bear case is that Tesla and other robotaxis are going to destroy the business. However the bulls case -- which the CEO has outlined -- is that there are going to be many auto companies that solve autonomous driving. Even if Tesla solves it a year before anyone else, it can't produce nearly enough cars to dominate the market before others catch up.
That will ensure it's a fragmented market and that Uber remains at the center of the network ecosystem, taking what is essentially a royalty as it's 180 million users continue to use it.
This article was written by Adam Button at www.forexlive.com. Read More Details
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