Shares of Uber were up as much as 10% Friday, a day after the company forecasted reaching a key profitability goal sooner than expected. The stock is on pace for its best day ever since debuting in May.
The move added $6 billion to Uber’s market valuation. It hovered around the same market cap it reached at the end of its first trading day, which was $69.7 billion. That’s still below its IPO valuation of $75.46 billion on a nondiluted basis.
Originally posted by:https://www.cnbc.com/2020/02/07/uber-shares-rise-after-forecasting-an-earlier-target-for-profitability.html