Uber might be one of the most popular companies in the world right now. Almost all of us have used their service. Uber describes itself as “A technology platform.” They go on to say that, “Our smartphone apps connect driver-partners and riders.” Therefore, the drivers are technically independent contractors that don’t work directly for Uber.
Uber went public on May 10th of 2019. They’ve only been on the stock market for little over a month, but have already caused a storm with investors. Uber’s stock started out as $45 per share, and it’s only decreased in value. After launching at $45 per share, Uber ended May 10th at $41.57 per share. Three days later on May 13th, the stock hit an all-time low at $37.10 per share. It’s steadily increased since then but still hasn’t gone above its opening price of $45. On June 5th, it actually hit $45 per share, but then quickly declined and hasn’t caught up since. Some analysts say that you should stay far away from Uber’s stock, while others think buying is a smart move. So, what does the future of Uber look like?