Here’s Why Uber Stock Is a Buy and Hold for the Long-Term Investor
Uber (NYSE: UBER) shares are down roughly 25% since the February peak as a result of fears from the novel COVID-19 coronavirus outbreak that started in Wuhan, China. However, the long-term potential of the ridesharing company has not changed. Admittedly, the next few weeks to months are likely to be volatile.
On March 4, CEO Dara Khosrowshahi said, "Certainly our rides business to the extent that people stop leaving their house will take a hit, while our Eats business will probably actually benefit."
Before fears started to elevate, the stock was starting to build some momentum. Investors were pleased after both Uber and Lyft (NASDAQ: LYFT) signaled to the market that they were going to offer fewer incentives to riders, thereby increasing hopes of profitability.
Source Fool.com
