Post-pandemic reopening set to even the books for Uber
With the food delivery business having boomed in the pandemic, the rides segment is bouncing back to pre-pandemic levels as countries return to normal.
With US markets pushing on to record highs, it is easy to forget that some fairly high-profile stocks have had a far less glorious time of it. A case in point is Uber, whose shares are flat in the year to date.
The pandemic has proven a double-edged sword with delivery activity booming, but it has put the skids on the ride-hailing business. The latter is staging a strong recovery in those markets where restrictions have eased, and vaccination rollouts have gained traction.
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Greg Smith is head of research at investment research and funds management house Fat Prophets.
