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Uber (UBER) Shares Skyrocket, What You Need To Know
Shares of ride sharing and on-demand delivery platform Uber (NYSE:UBER) jumped 9.5% in the afternoon session after famous investor Bill Ackman revealed a 30.3m stake (shares) in the company, valued at roughly $2.3 billion. Ackman, who is the CEO of Pershing Square Capital Management, added that Uber is trading at a "massive discount" and can be considered "one of the best managed and highest quality businesses in the world."
Why Tesla (TSLA) Shares Are Falling Today
Shares of electric vehicle pioneer Tesla (NASDAQ:TSLA) fell 3.3% in the afternoon session after reports revealed that the company's sales in China fell 11.5% year on year in January 2025, despite incentivizing consumers to boost demand. Data from the China Passenger Car Association revealed that deliveries of Tesla's Model 3 and Model Y vehicles in China fell 32.6% from December 2024. The data further revealed that Chinese competitor BYD recorded a 47% sales growth during the period, stoking fears that Tesla is losing ground in the world's biggest auto market.
Why Nikola (NKLA) Shares Are Trading Lower Today
Shares of electric vehicle manufacturer Nikola (NASDAQ:NKLA) fell 48.4% in the afternoon session after reports suggest the company may be preparing to file for bankruptcy. The sources also noted that "the company was working with advisors to explore options to restructure its debt." The company has not confirmed or denied these claims.