Circle November 6 on your calendar.
That day, one of America’s most controversial disruptor stocks will likely get crushed.
If history’s any indication, it could easily plunge 10% or even 15%.
Rumors will fly that the company is going out of business.
But if you know what’s coming, you have nothing to worry about. You could even capitalize on the fear.
In fact, I wouldn’t be surprised if November 6 turns out to be the best opportunity to buy this beaten down stock ahead of a big bounce.
On the heels of a driver-led protest outside Uber’s San Francisco headquarters, where drivers showed their support for gig worker protections legislation (via Assembly Bill 5) and demanded a union, Uber is circulating a petition urging people to “protect ridesharing in California.” In the petition, Uber advocates for a policy that would offer drivers a minimum of $21 per hour while on a trip,* paid time off, sick leave and compensation if they are injured while driving, as well as a collective voice and “the ability to influence decisions about their work.”
A review of 14,756 rides found Uber and Lyft taking a much bigger slice of drivers' fares than they say they do
A Jalopnik analysis of 14,756 ride fares from Uber and Lyft drivers found the ride-hailing apps to be taking a bigger bite out of drivers' fares than they say they do.
LOS ANGELES, CA / ACCESSWIRE / August 15, 2019 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Uber Technologies, Inc. (“Uber” or “the Company”) (NYSE:UBER) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
In Los Angeles County, where the minimum wage is currently $14.25 an hour, studies suggest that Uber and Lyft drivers often make far less. In El Monte, an industrial city east of Los Angeles, the city council just unanimously voted to change that, telling city officials to begin drafting a law that would guarantee drivers a minimum of $30 an hour.