Time for Uber-Lyft ETFs After Tesla's Unimpressive Robotaxi Event?

Zacks10-16

Shares of Uber UBER and Lyft LYFT surged on Oct. 11, 2024, following Tesla’s TSLA not-so-exciting robotaxi event, which failed to meet expectations, raising concerns among ridesharing investors. Uber ...

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Uber ...</p>\n\n<a href=\"https://finance.yahoo.com/news/time-uber-lyft-etfs-teslas-180000740.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Time for Uber-Lyft ETFs After Tesla's Unimpressive Robotaxi Event?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTime for Uber-Lyft ETFs After Tesla's Unimpressive Robotaxi Event?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-16 02:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/time-uber-lyft-etfs-teslas-180000740.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of Uber UBER and Lyft LYFT surged on Oct. 11, 2024, following Tesla’s TSLA not-so-exciting robotaxi event, which failed to meet expectations, raising concerns among ridesharing investors. Uber ...</p>\n\n<a href=\"https://finance.yahoo.com/news/time-uber-lyft-etfs-teslas-180000740.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0642271901.SGD","symbol_name":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","start_time":0,"source_url":"https://finance.yahoo.com/news/time-uber-lyft-etfs-teslas-180000740.html","article_id":"2475628776","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/UFIIBfAz3Xh_DejaboReMg--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/c72948d9110c781347c525891307628f"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2475628776","pubTimestamp":1729015200,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Shares of Uber UBER and Lyft LYFT surged on Oct. 11, 2024, following Tesla’s TSLA not-so-exciting robotaxi event, which failed to meet expectations, raising concerns among ridesharing investors. Uber shares jumped 10.8% on that day, LYFT stock jumped 9.6%, while Tesla shares slumped 8.8%.Tesla’s robotaxi service is comparable to the taxi services offered by Uber and Lyft. A robotaxi is a self-driving car that operates as a taxi in an e-hailing service, and passengers can request them via a smartphone application. Tesla’s much-anticipated unveiling of robotaxi lacked some crucial details about the potential ridesharing app. This boosted Uber's stock to an all-time high.Jefferies analysts described the CyberCab as \"toothless,\" calling the event a \"best-case outcome for Uber.\" They noted Tesla failed to provide \"verifiable evidence of progress\" on autonomous vehicle technology, reinforcing their belief that Uber is well-positioned to support the growth of autonomous vehicle developers. Th","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","LU2326559502.SGD":"Natixis Loomis Sayles US Growth Equity P/A SGD-H","LU2602419157.SGD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"AC\" (SGD) ACC","LU0056508442.USD":"贝莱德世界科技基金A2","BK4574":"无人驾驶","LU2756315318.SGD":"ALLIANZ INCOME AND GROWTH \"AMG\" (SGDHDG) INC A","BK4592":"伊斯兰概念","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","SG9999018865.SGD":"United Global Quality Growth Fd Cl Dist SGD-H","BK4581":"高盛持仓","IYT":"运输指数ETF-iShares","AWAY":"Amplify Travel Tech ETF","SG9999015945.SGD":"LionGlobal Disruptive Innovation Fund A SGD","SG9999015986.USD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (USD) ACC","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","LU1983260115.SGD":"Janus Henderson Horizon Global Sustainable Equity A2 SGD-H","TSLL":"Direxion Daily TSLA Bull 2X Shares","LU1145028129.USD":"ALLIANZ INCOME AND GROWTH \"AQ\" (USD) INC","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","TSLA":"特斯拉","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","FDN":"First Trust Dow Jones Internet I","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","SG9999014906.USD":"大华全球优质成长基金Acc USD","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","SG9999014914.USD":"UNITED GLOBAL QUALITY GROWTH (USDHDG) INC","LU2063271972.USD":"富兰克林创新领域基金","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","BK4588":"碎股","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","LYFT":"Lyft, Inc.","LU0097036916.USD":"贝莱德美国增长A2 USD","BK4503":"景林资产持仓","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","SG9999014898.SGD":"United Global Quality Growth Fund Dis SGD","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","LU2756315664.SGD":"ALLIANZ INCOME AND GROWTH \"AMI\" (SGDHDG) INC","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","LU1861558580.USD":"日兴方舟颠覆性创新基金B","BK4527":"明星科技股","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","LU1861215975.USD":"贝莱德新一代科技基金 A2","UBER":"优步","BK4505":"高瓴资本持仓","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD"},"translate_title":"特斯拉机器人出租车活动平淡无奇之后，是时候推出优步Lyft ETF了吗？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"LYFT":1,"TSLL":1,"TSLA":1,"IYT":1,"AWAY":1,"UBER":0.9,"FDN":0.9},"content_text":"Shares of Uber UBER and Lyft LYFT surged on Oct. 11, 2024, following Tesla’s TSLA not-so-exciting robotaxi event, which failed to meet expectations, raising concerns among ridesharing investors. Uber shares jumped 10.8% on that day, LYFT stock jumped 9.6%, while Tesla shares slumped 8.8%.\nTesla’s robotaxi service is comparable to the taxi services offered by Uber and Lyft. A robotaxi is a self-driving car that operates as a taxi in an e-hailing service, and passengers can request them via a smartphone application. Tesla’s much-anticipated unveiling of robotaxi lacked some crucial details about the potential ridesharing app. This boosted Uber's stock to an all-time high.\nTesla's Robotaxi Event Falls Short of Expectations\nOn Oct. 10, 2024, Tesla introduced its CyberCab, an autonomous vehicle designed for ridesharing, along with a 20-seater \"RoboVan.\" Tesla CEO Elon Musk claimed that the CyberCab would be priced under $30,000 and envisioned individuals operating fleets of these vehicles as an alternative to Uber and Lyft. Despite this, analysts were underwhelmed by the lack of exact details regarding Tesla’s plans to launch a ridesharing platform.\nIs Uber Stock a Buy?\nJefferies analysts described the CyberCab as \"toothless,\" calling the event a \"best-case outcome for Uber.\" They noted Tesla failed to provide \"verifiable evidence of progress\" on autonomous vehicle technology, reinforcing their belief that Uber is well-positioned to support the growth of autonomous vehicle developers. They maintained a \"buy\" rating on Uber’s stock, as quoted on Investopedia.\nBank of America analysts, too, echoed similar sentiments, per the above-mentioned source. Uber stock has a Zacks Rank #2 (Buy). Meanwhile, Lyft shares have a Zacks Rank #3 (Hold). Jefferies analysts highlighted that Uber is \"uniquely well-positioned\" to form partnerships with autonomous vehicle developers, offering advantages such as fleet management, pricing optimization, and regulatory navigation. Citi analysts also expressed optimism for Uber, as quoted on Investopedia.\nShould You Ride On Uber & Lyft Shares Via the ETF Route?\nThere are a few exchange-traded funds (ETFs) that are heavy on Uber shares. These areiShares US Transportation ETF IYT (19% weight), Franklin Disruptive Commerce ETF BUYZ (about 7% weight) and Amplify Travel Tech ETF AWAY (4% weight each in Uber and Lyft). Trenchless Fund ETF RVER is heavily weighted on Lyft shares (weight roams around 14%).\nInvestors should note that the ETF or basket approach always minimizes company-specific risks. With Uber shares roaming around at an all-time high, many may be cautious about these shares’ ability to surge further. In such a scenario, the ETF route appears to be more balanced and contains lesser risks.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nTesla, Inc. (TSLA) : Free Stock Analysis Report\nAmplify Travel Tech ETF (AWAY): ETF Research Reports\niShares U.S. Transportation ETF (IYT): ETF Research Reports\nLyft, Inc. (LYFT) : Free Stock Analysis Report\nUber Technologies, Inc. (UBER) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.4","shortVersion":"4.29.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2475628776"}