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":"LU0820561909.HKD","symbol_name":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","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,"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":{"LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","BK4588":"碎股","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","UBER":"优步","LU2063271972.USD":"富兰克林创新领域基金","LU2756315664.SGD":"ALLIANZ INCOME AND GROWTH \"AMI\" (SGDHDG) INC","BK4574":"无人驾驶","SG9999015945.SGD":"LionGlobal Disruptive Innovation Fund A SGD","BK4505":"高瓴资本持仓","SG9999015986.USD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (USD) ACC","LU1145028129.USD":"ALLIANZ INCOME AND GROWTH \"AQ\" (USD) INC","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","LU0097036916.USD":"贝莱德美国增长A2 USD","BK4581":"高盛持仓","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","LU2326559502.SGD":"Natixis Loomis Sayles US Growth Equity P/A SGD-H","IYT":"运输指数ETF-iShares","BK4503":"景林资产持仓","LYFT":"Lyft, Inc.","TSLL":"Direxion Daily TSLA Bull 2X Shares","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","LU1861558580.USD":"日兴方舟颠覆性创新基金B","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","SG9999014906.USD":"大华全球优质成长基金Acc USD","LU1861215975.USD":"贝莱德新一代科技基金 A2","SG9999014898.SGD":"United Global Quality Growth Fund Dis SGD","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","TSLA":"特斯拉","BK4527":"明星科技股","LU2602419157.SGD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"AC\" (SGD) ACC","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","LU2756315318.SGD":"ALLIANZ INCOME AND GROWTH \"AMG\" (SGDHDG) INC A","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","BK4592":"伊斯兰概念","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","FDN":"First Trust Dow Jones Internet I","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","LU0056508442.USD":"贝莱德世界科技基金A2","SG9999014914.USD":"UNITED GLOBAL QUALITY GROWTH (USDHDG) INC","SG9999018865.SGD":"United Global Quality Growth Fd Cl Dist SGD-H","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","LU1983260115.SGD":"Janus Henderson Horizon Global Sustainable Equity A2 SGD-H","AWAY":"Amplify Travel Tech ETF"},"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":null,"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":"4.29.1","shortVersion":"4.29.1","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"}