The stock market indexes experienced a rare downturn in 2024, marking just the second decline of the year. However, amidst this downturn, one particular stock stood out, rising by an impressive 10% and reaching a new high.
Curious about which stock this is? Let's find out!
Congratulations to @thatsy for a profit margin of 114.75% through trading $Uber(UBER)$! Remarkably, the initial cost price was only $37.36.๐๐๐
Rideshare, delivery, and logistics company Uber soared to new all-time highs after announcing a whopping $7 billion buyback.
Since the beginning of this year, uber has jumped 27%, comfortably beating the S&P 500, which rose nearly 5% during the same period. Furthermore, Uber also got included in the $S&P 500(.SPX)$.
Uber's Q4 revenues reached $9.94 billion, beating analyst estimates by $174 million, and the company generated $768 million of free cash flow during the period.
Management expects gross bookings in Q1 of FY24 to be between $37 and $38 billion, and adjusted EBITDA to be between $1.26 and $1.34 billion.
Uber announced a $7 billion share buyback during its Investor Day, highlighting its confidence in its ability to generate free cash flow and return capital to shareholders.
Apart from Uber, which other stocks beat earnings estimates this week?
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Feel free to share your $Uber(UBER)$ positions in the comment section for a chance to win Tiger Coins!
If you've achieved profits from other potential stocks we donโt know, kindly share your trading strategies in your post, and remember to include the topic "Winning Trades". Hope you'll be the next one to make it onto the leaderboard~
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