Uber's Trading Volume Drops 27.99% to $875 Million Ranking 80th Amid California Wage Theft Negotiations

On March 26, 2025, Uber's trading volume reached $875 million, a 27.99% decrease from the previous day, ranking 80th in the day's stock market. Uber's stock price fell by 1.89%, marking the second consecutive day of decline, with a total decrease of 3.05% over the past two days.

Uber is currently in settlement negotiations with California over wage theft allegations. The dispute involves claims that the company has illegally classified drivers as independent contractors, leading to unpaid wages and expenses. The estimated amount owed to drivers is over $1.3 billion, covering unpaid wait time and reimbursement for expenses.

This legal battle has significant implications for Uber, as it could result in substantial financial penalties and potential changes to the company's business model. The outcome of these negotiations will be closely watched by investors and industry analysts, as it could set a precedent for similar cases involving gig economy companies.