NEW YORK, May 31, 2026, 15:04 (EDT)
- Uber slipped for the holiday-shortened week. The S&P 500, though, finished higher for the week.
- The question for the stock now is if investors see Delivery Hero as adding needed scale or just as another costly side project.
- Trading could restart with a formal bid, new German filings, or shareholder resistance in focus.
Uber Technologies shares start the week with investors still waiting on deal news. The stock slipped last week, a period when most of Wall Street moved up.
New York Stock Exchange stayed closed on Sunday. The exchange plans to reopen for its usual trading hours Monday, 9:30 a.m. to 4 p.m. New York time. NYSE shows New York as the listed venue, with EDT as the current time zone.
Uber closed Friday at $70.40, slipping 0.73%. For the week, the stock dropped nearly 2% from last Wednesday’s $71.82 finish. Shares moved between $69.96 and $72.24 on Friday.
The S&P 500 finished the week up 1.4%, its ninth week in a row of gains. The Nasdaq Composite did better with a 2.4% jump, while the Dow Jones Industrial Average ended 0.9% higher.
Uber lifted its holding in Delivery Hero to almost 37% from 25% after picking up shares from Aspex Management, Reuters reported. The filing showed Uber’s total stake includes 24.99% in common stock, with the rest coming from derivatives tied to shares but not regular stock. Reuters also said Uber is putting together a new bid after previously making a €33 per share offer.
Why now? Uber wants more global scale in food delivery at a time when the stock is already trading under where it was in early May. A higher bid could give Uber Eats more clout versus competitors, but it would also put a clear cost on expanding in a business with persistently low margins.
DoorDash looks like the main comparable. Reuters, picking up a Financial Times report, said DoorDash had approached Delivery Hero shareholders and made enquiries but didn’t purchase shares.
Uber is showing some momentum. In its first-quarter update earlier in May, the company reported trips up 20% from last year at 3.6 billion. Gross bookings climbed 25% to $53.7 billion. Chief Financial Officer Balaji Krishnamurthy said, “Gross Bookings growth exceeding 21% for the third consecutive quarter.” Uber Investor Relations
The company said it’s putting money into autonomous vehicles — self-driving cars — and artificial intelligence, but CEO Krishnamurthy said it is following a “capital-efficient approach to AVs.” That’s the message investors will weigh if Delivery Hero ups its stake. Uber Investor Relations
Jefferies analyst Giles Thorne flagged “a myriad of antitrust issues,” and MarketScreener quoted him warning that some investors may want to get the “maximum in the shortest possible time.” Uber could end up lifting its bid above €40, be forced to sell off assets, or pull out after piling into the stock. In any of those cases, the deal might move from a strategic bet to a drag on Uber’s share price. MarketScreener
Traders this week are waiting to see if a formal tender offer comes, another German filing gets made, or Delivery Hero issues a statement on its strategic review. Uber shares ended Friday at $70.40, with the day’s low at $69.96. If the shares open below that, it would keep the deal discount in play.
Uber isn’t just moving on ride volumes right now. The stock is following what management does with Delivery Hero and if they can use it as leverage as food delivery players consolidate—without spooking investors into selling again.
