Uber's stock soared 5.01% during intraday trading on Friday, driven by multiple positive developments that buoyed investor sentiment.
The ride-hailing giant recently formed an L4 autonomous driving strategic alliance with automaker Stellantis and AI driving company Wayve, with plans to deploy autonomous mobility services across 12 global cities including London and Tokyo. Additionally, Uber-backed shared mobility platform Lime has launched its U.S. IPO roadshow, seeking to raise up to $181 million, with Uber designated as an anchor investor. Market sentiment was further bolstered by the disclosure that former U.S. House Speaker Nancy Pelosi recently purchased 200 Uber call option contracts.
Analyst confidence also supported the move, with BTIG maintaining a $100.00 per share price target on Uber Technologies, underscoring a positive outlook for the company's future performance.
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