The market action Tuesday in Uber Technologies is another reason to be bullish on the stock, according to Ritholtz Wealth Management CEO Josh Brown. While Uber shares were down more than 2% in midday trading, it is only a fraction of the loss that its ride-sharing competitor Lyft was experiencing, Brown said on CNBC’s ” Halftime Report .” Lyft’s stock tumbled nearly 25% Tuesday after reporting worse-than-expected revenue for the third quarter and miss on active riders. “You almost never see these two trade apart from each other after reporting earnings,” Brown said. “It’s becoming apparent Uber is becoming the one company that’s going to dominate this space, similar to what Google eventually was able to do in search.” Last week, Uber reported a third-quarter loss but gave strong fourth-quarter guidance . Its revenue also beat expectations, coming in at $8.34 billion versus $8.12 billion expected by analysts. Uber is down 35% year to date, while Lyft has lost 74% so far this year.
Sumber: www.cnbc.com
