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Ubers (UBER) initiative in making the U.S. a safer place during the Coronavirus pandemic

What is Uber doing to protect Americans from COVID-19?

Uber is one of the many businesses that is taking initiative during this tough lockdown the nation is experiencing due to the coronavirus. The following implementations are being made for the drivers, customers, and the general public. The most important through every aspect of transportation at the current time is sanitation. Drivers and customers of Uber are working their hardest to keep clean to prevent the spread of COVID-19. Uber’s CFO Nelson Chai states that Uber Eats is eliminating the delivery fees for many independent local restaurants. Also, Uber is working to deliver over 300,000 free meals to public officials and first responders.

How is Uber’s stock price affected by the coronavirus?

Uber’s stock price is currently at $19.13 a share down -5.50% for the day, -31.28% for the week, -36.91% for the past 3 months, and -57.54% for the year. Uber is hovering close to the 52 week low is $18.01. Could this be a rise for Uber? Are they taking the right precautionary steps in protecting Americans from the coronavirus? Both Uber and Lyft just suspended shared-ride due to the coronavirus.

Ubers EPA (Earning per Share) has reported close to expected for the past two quarters, falling short the first two of 2019. Uber is making sure that they have enough liquidity to get them through this time. CFO Nelson Chai states that Uber has over 10 billion dollars on its cash sheet. Uber is working towards offering delivery drivers some benefits to driving with Uber. This large, diversified company is managing through this tough crisis along with many others. But, will this have a permanent effect on Uber’s demand for drivers?

March 17, 2020

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