Why Uber Technologies Stock Was a Dog in December

A retreat in the development of autonomous vehicles was the major news item decelerating the stock of rideshare incumbent Uber Technologies (NYSE: UBER) in December. As a result, the shares skidded to a more than 16% loss in value over the month.That news came from storied U.S. auto manufacturer General Motors on Dec. 10 when it announced that it will no longer bankroll the development of a specialized robotaxi under its Cruise autonomous-driving division.In its official press release announcing this decision, General Motors said it was due to "the considerable time and resources that would be needed to scale the business, along with an increasingly competitive robotaxi market."Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool