Ride-sharing giants Uber, Lyft jump after Tesla’s ‘toothless taxi’ fails to excite investors
The Uber logo is seen in the rain in Krakow, Poland, on Jan. 6, 2024.Klaudia Radecka | Nurphoto | Getty ImagesTesla's hyped robotaxi unveiling posed a threat to Uber's ride-sharing aspirations, but it has turned into a boon for the stock instead.Uber shares had been falling on the initial investor excitement leading up to Thursday's event — particularly slumping in early August and mid-September — but surged more than 9% on Friday on renewed enthusiasm that the company is well positioned to advance its autonomous vehicle offerings. The move pushed the stock to a 52-week high and it was leading the S&P 500 higher during the session.That is a massive turnaround for Uber's stock, which is now up nearly 22% over the past month and about 38% for the year. Lyft, another major player, is also...










