Uber (NYSE:UBER) gains $8 billion after robotaxi push
Uber Technologies picked up nearly $8 billion in market value in one session after a move tied to its new autonomy unit, but the company still hasn’t reported revenue from that business. Uber last traded at $75.69, off 0.7% Monday. Market cap landed at $156.8 billion. This is important for investors since the $8 billion gain tops several months of Uber’s cash generation. It’s 3.5 times Uber’s $2.286 billion free cash flow in Q1 and 2.9 times the $2.75 billion midpoint for Q2 adjusted EBITDA that the company guided.