NEW YORK, January 9, 2026, 20:06 EST — Market closed
- Uber shares dropped 2.45% to close at $85.44 on Friday, snapping a three-day rally.
- CES-related autonomous vehicle news kept robotaxis front and center, with Nvidia highlighting partnerships, including one with Uber.
- Analysts adjusted their targets, while investors turn their focus to California regulators and Uber’s upcoming earnings forecast.
Uber Technologies (UBER) shares dropped 2.45%, closing at $85.44 on Friday and ending a three-day winning streak. The Nasdaq Composite climbed 0.81%, while DoorDash slid 3.81%, according to MarketWatch data. Uber’s volume came in at 15.4 million shares, below its 50-day average, with the stock finishing roughly 16% under its 52-week high.
Talk of autonomous vehicles made a comeback at CES in Las Vegas. Nvidia unveiled a next-gen self-driving platform, set to power a robotaxi alliance involving Lucid, Nuro, and Uber, according to Reuters on Friday. Amazon Web Services exec Ozgur Tohumcu described AI and generative AI as a “big accelerant” for development and validation. Reuters
Robotaxis present a double-edged sword for Uber investors. Autonomous fleets operating on Uber’s app might boost trip volumes, but fares and commissions could come under pressure as fleet owners and tech partners push for better terms.
Wall Street saw some changes as well. Wells Fargo’s Ken Gawrelski stuck with an overweight rating, predicting Uber will beat its peers, and nudged his price target up to $122 from $120 on Thursday, according to GuruFocus. Meanwhile, Cantor Fitzgerald’s Deepak Mathivanan held onto an overweight rating but cut his target to $99 from $108.
Regulation stole the spotlight Friday as Uber and Lyft drivers took to the streets outside the California Public Utilities Commission in San Francisco, protesting Waymo’s self-driving taxis. The commission was in the midst of talks on potential new rules for autonomous vehicles, according to the Associated Press.
During a CPUC hearing that same day, a judge grilled Waymo on the number of vehicles that stalled during a December power outage and gave companies until Jan. 30 to respond to regulators’ inquiries, the San Francisco Chronicle reported. Lawyers representing Uber and Lyft were also present at the hearing, the paper added.
The self-driving sector has a history of setbacks and costly delays, and stricter state regulations could further stall deployments that investors are currently banking on. A drop in Uber’s “take rate”—the portion of a fare it retains—would undermine the profit narrative that’s been boosting the stock.
U.S. markets are closed for the weekend, and traders will be back Monday keeping an eye on CES developments and potential fallout from California regulators. Uber’s next earnings report is expected Feb. 4 before the open, according to Wall Street Horizon, with investors zeroing in on 2026 demand forecasts, cost outlooks, and updates on autonomous vehicle partnerships.
