2023 has had plenty of surprises, but one of the biggest has been the Uber Technologies (NYSE: UBER) comeback story.

For years, Uber stock was trading below its $45 initial public offering (IPO) price, initially slammed by wide losses and later by the pandemic. However, thanks to efforts to cut costs by jettisoning underperforming businesses, focusing on its most profitable markets, and the emergence of Uber Eats during the pandemic, Uber is now profitable and delivering excellent returns for investors.

It was also recently added to the S 500, a reflection of its achievement of generally accepted accounting principles (GAAP) profitability over the last four quarters.

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Source Fool.com