Canopy Growth stock tumbles after announcing $200 million share sale plan
Prashanth Mahendra-Rajah, the Chief Financial Officer of Uber Technologies, Inc (NYSE:UBER), recently sold 2,750 shares of the company’s common stock. The transaction, executed on March 20, was conducted at a price of $75 per share, resulting in a total sale value of $206,250. This sale was made under Mahendra-Rajah’s existing Rule 10b5-1 plan, which was adopted on December 17, 2024. Following this transaction, Mahendra-Rajah retains ownership of 22,162 shares of Uber stock. With the stock currently trading at $76.51 and showing strong momentum, investors can access detailed valuation metrics and 12 additional key insights through InvestingPro’s comprehensive research report.
In other recent news, Uber Technologies has seen its credit rating upgraded to ’BBB’ from ’BBB-’ by S&P Global Ratings, reflecting improvements in credit metrics and free operating cash flow. In 2024, Uber reported a 21% increase in gross bookings to approximately $163 billion and a 60% year-over-year increase in EBITDA to $6.5 billion. The company expects further growth in gross bookings and EBITDA for the first quarter of 2025. However, Uber’s agreement to acquire the Foodpanda business in Taiwan fell through after local regulatory authorities did not approve the deal, resulting in a termination fee of about $250 million. Meanwhile, Tesla (NASDAQ:TSLA) has secured an initial approval from California to potentially start a robotaxi service, marking a step forward in its autonomous vehicle ambitions. This development is part of Tesla’s broader strategy to innovate in the electric and self-driving car sectors. Analysts from Bernstein have highlighted the potential impact of autonomous vehicle technology on rideshare companies like Uber and Lyft (NASDAQ:LYFT), noting that the emergence of multiple AV tech providers could reshape the market. Additionally, Citizens JMP maintained a Market Perform rating on Uber, with analyst Andrew Boone citing the impact of autonomous vehicles on the company’s long-term strategy.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.