Uber Technologies Inc. shares surpassed $100 today for the first time since the ride-hailing and food delivery company went public, marking a significant milestone for the stock.
The achievement represents a more than doubling from Uber’s $45 IPO price in 2019. The stock fell below $15 during the 2020 market crash before beginning its recovery.
Uber achieved its first full year of GAAP profitability in 2023 and joined the S&P 500 index, attracting institutional investment. The company announced a $7 billion share buyback program in early 2024.
The company is positioning itself in autonomous vehicle technology through partnerships and robotaxi investments.
