Why Uber Stock Jumped 23% in August
Shares of Uber Technologies (NYSE: UBER) were rolling higher last month as the ridesharing giant seemed to turn the corner in its recovery from the pandemic and its quest to deliver consistent profitability.
The company posted better-than-expected revenue in its second-quarter earnings report, and finished the month up 23%, according to data from S&P Global Market Intelligence.
As you can see from the chart below, the stock jumped on its earnings report in early August and mostly held those gains even as the broad market pulled back in the second half of the month.
Source Fool.com
