Joe Terranova Sells Uber Stock Amidst Market Uncertainty and Competition Concerns

Joe Terranova's Uber Sale Rationale

• 💡 Joe Terranova explains his personal sale of Uber stock due to a desire for clarity and avoiding worry across both personal and ETF holdings.
• 🎯 He notes Uber's recent struggle to break past resistance in the low $90s and subsequent retreat towards $80, signaling a potential breakdown.
• ⚠️ Terranova expresses concern that repeated pressure on apparent support levels, like the $80 mark, could lead to a pierce-through.

Contrasting Investment Strategies

• 🧠 While Terranova sold personally, he still holds Uber in the ETF, acknowledging its strong year-to-date performance (40% up) and quality characteristics.
• 📈 Jenny, another panelist, maintains her position in Uber, citing strong Q3 bookings (up 21%) and free cash flow yield (6%), viewing the recent 10% pullback as part of a broader market trend affecting big tech.
• ⏳ Terranova's strategy is described as more reactionary to short-term technicals, while Jenny's is focused on a longer-term, 3-5 year outlook, considering competition further out.

Competitive Landscape: Waymo's Impact

• 🚗 New data from Waymo (Alphabet's subsidiary) shows significant growth, serving 14 million paid rides in 2025 so far and on track for 20 million lifetime rides by year-end.
• 🚀 Waymo is tripling rides year-over-year, targeting a million rides per week by the end of 2026, indicating a substantial threat to ride-sharing services like Uber and Lyft.
• 📍 Waymo's expansion plans include over 20 new cities in 2026, with successful freeway robo-taxi rides in the Bay Area, suggesting a national network is becoming a reality.
• 🗣️ In San Francisco, Waymo has become ubiquitous, moving from novelty to normalcy, with some users finding it as safe or safer than traditional ride-shares.

Market Sentiment and Technicals

• 📉 Uber's stock is down nearly 6% intraday, coinciding with the Waymo news, and is trading at the lows of the session.
• 📊 Despite the stock's performance, 80% of the analyst community maintains a buy rating with a 12-month price target of $133, though potential price cuts are expected if the stock breaks down further.