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UNIS:UBR, Nov 22, 07:04 UTC

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Uber Short Sellers Are Cashing Out In Droves

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S3 analyst Ihor Dusaniwsky said this week Uber’s short position is down 48% in that time. Uber shorts added another $251.1 million to their gains in the last month alone, although the past week has eaten into the profits of the remaining short sellers. Even after all the covering, Uber still has more than $834 million in short interest remaining. “Such substantial and hurried short covering is usually a sign of a short squeeze, traders pulling their fingers away from a hot stove, but in this case it may be a signal of a market bottom for UBER after its IPO lockup expiry,” Dusaniwsky said. Short covering is a good sign for Uber bulls because it's a signal short sellers see little additional downside in the near-term. However, for the Uber bounce to maintain its momentum, the company will ultimately need to demonstrate improved fundamental metrics and a viable path to long-term profitability.

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Benzinga Pro's Top 5 Stocks To Watch For Fri., Nov. 22, 2019: TSLA, UBER, SPLK, EYEG, WKHS

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Benzinga Pro's Top 5 Stocks To Watch For Fri., Nov. 22, 2019: TSLA, UBER, SPLK, EYEG, WKHS. Tesla (TSLA) - Shares were down about 3% to under the $350 level following Thursday evening's unveiling of the company's new pickup, the Cybertruck. With Uber shares last over the $30 level, the new price target represented upside of just 13% over the next 12 months. Also of note Friday morning, the company disclosed the open-market sale of about 20 million shares by Founder and Board Director Travis Kalanick.

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Uber (UBER) Stock Rises as CEO Purchases Shares Worth $6.7M

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ZacksNovember 22, 2019, 1:16 PM UTC. As Uber Technologies’ UBER co-founder Travis Kalanick continues with his sell-offs, its CEO Dara Khosrowshahi is buying more shares.According to a Nov 20, SEC filing, Khosrowshahi bought 250,000 Uber shares worth $6.7 million in his first open-market purchase of the company’s shares. Following the news, shares of the company rose and closed yesterday’s trading session at $29.46, up 5.1%.Khosrowshahi’s purchase marks the second insider purchase of company’s stock, the first being made by Chairman Ron Sugar on Nov 8. Zacks Rank & Key PicksUber carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the same space are Marchex, Inc. MCHX, Akamai Technologies, Inc. AKAM and HealthStream, Inc. HSTM. While Marchex sports a Zacks Rank #1 (Strong Buy), Akamai Technologies and HealthStream carry a Zacks Rank #2 (Buy). Click to get this free report Akamai Technologies, Inc. (AKAM) : Free Stock Analysis Report HealthStream, Inc. (HSTM) : Free Stock Analysis Report Marchex, Inc. (MCHX) : Free Stock Analysis Report Uber Technologies, Inc. (UBER) : Free Stock Analysis Report To read this article on Zacks.com click here.

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Uber taxi license: Uber still in the dark on London taxi licence renewal, three days before expiry, Auto News, ET Auto

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Uber's licence in London currently expires on November 25. LONDON: Uber is waiting to find out whether its taxi licence in London, one of its most important markets, will be renewed, just three days before it is due to expire in the latest stage of a long-running battle with the city's transport regulator. Transport for London (TfL) rejected a renewal request in 2017 due to shortcomings it said it found in the firm's approach to reporting serious criminal offences and driver background checks, prompting legal action. Ahead of the latest decision, Uber said it would introduce measures such as a discrimination button enabling drivers and riders to report abuse, enhanced safety training for drivers and a direct connection to the emergency services.

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Travis Kalanick: Travis Kalanick sells almost $1.5 billion of Uber, may offload entire stake, Technology News, ETtech

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Travis Kalanick’s November selling spree has almost reached $1.5 billion. The Uber co-founder sold off about $578 million of stock over three days this week, extending a series of transactions since a lockup ended Nov. 6. The shift started taking place even before Uber’s May listing, with Kalanick participating in private transactions after he was ousted as chief executive officer in 2017. “While it is usual to see directors with such a high value holding selling regularly, Kalanick’s sales are unusually high,” said Michael Tindale, chief executive officer of Smart Insider, which tracks and analyzes share transactions by directors and senior managers.

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Uber Accused of Cheating the Public in Driver Suit Over Pay

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(Bloomberg) -- Uber Technologies Inc. faces a new legal attack on its refusal to treat drivers as employees that depicts the company as mistreating not just them but the public at large. A lawyer who’s been fighting the ride-hailing giant in court for six years wants a judge to now take into account the extra costs saddled on California taxpayers by Uber’s business model. The company has warned that attempts to convert its drivers from independent contractors to employees under California’s recently passed AB 5 law, which goes into effect Jan. 1, will be handled as they always have: by its armies of lawyers in courtroom combat. For good measure, Uber is pouring tens of millions of dollars into a 2020 ballot initiative in an attempt to shield its drivers from the law. Uber says the driver Liss-Riordan is representing, Thomas Colopy, can’t show its labor model causes him “irreparable harm.” His request for the company to be forced to reclassify drivers “does not serve the public interest, but rather only his own,” Uber said in a court filing.

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UPDATE 1-Uber denies report it in talks with Germany's Wirecard

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UPDATE 1-Uber denies report it in talks with Germany's Wirecard. BERLIN, Nov 21 (Reuters) - Ride hailing company Uber denied a German magazine report on Thursday that it was considering hiring Wirecard as its main payments partner to replace Dutch platform Adyen. "We are not in conversations with Wirecard for card acquiring," an Uber spokeswoman said in an email to Reuters when asked whether the report, in Manager Magazine, was accurate. Manager Magazine, on page eight of a 17-page special report on Wirecard, quoted CEO Markus Braun as saying that talks on payments deals with more than a dozen Softbank Group companies were "already very far advanced".

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Uber says not in talks with Germany's Wirecard

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Uber says not in talks with Germany's Wirecard. 21 November 2019, 16:16 UTC. BERLIN (Reuters) - Ride hailing company Uber <UBER.N> denied a German magazine report on Thursday that it was considering hiring Wirecard <WDIG.DE> as its main payments partner to replace Dutch platform Adyen <ADYEN.AS>. "We are not in conversations with Wirecard for card acquiring," an Uber spokeswoman said in an email to Reuters when asked whether the report, in Manager Magazine, was accurate. What to read next.

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Uber says not in talks with Germany's Wirecard

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Uber says not in talks with Germany's Wirecard. 21 November 2019, 16:16 UTC. BERLIN (Reuters) - Ride hailing company Uber <UBER.N> denied a German magazine report on Thursday that it was considering hiring Wirecard <WDIG.DE> as its main payments partner to replace Dutch platform Adyen <ADYEN.AS>. "We are not in conversations with Wirecard for card acquiring," an Uber spokeswoman said in an email to Reuters when asked whether the report, in Manager Magazine, was accurate. What to read next.

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Wednesday, November 20


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Uber's latest attempt to address safety concerns: letting riders and drivers record rides

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(CNN) -- As Uber faces continued pressure over safety issues, the ride-hailing company is set to test a controversial new safety feature that will allow riders and drivers to record audio during a trip within its app. Safety is an ongoing struggle for the company, with incidents that range from fatal robberies of drivers in Latin America, where the company accepts cash payments, to reports of sexual assault and rape by drivers in the United States. The news comes as a year-end deadline for releasing data on safety incidents in the US nears. While the company has repeatedly claimed that safety is its top priority, Uber has yet to release a promised safety transparency report, which will include data on claims of sexual assaults and other safety incidents on its platform. After CNN started asking questions about sexual assault incidents, Uber announced increased safety measures in 2018, including a partnership with RapidSOS, a company that sends a rider's location and relevant information to a local police agency when the rider uses the emergency button in the Uber app.

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