Uber Shares Soar 5.87% on Volkswagen Partnership

Uber Technologies (UBER) shares surged 5.87% today, reaching their highest level since February 2025, with an intraday gain of 6.25%.

On April 21, 2025, the Federal Trade Commission filed a lawsuit against Uber, alleging deceptive practices related to its Uber One subscription service. This legal action led to a significant drop in Uber's stock price, falling by more than 4.7% in afternoon trading on the same day. Additionally, the Schall Law Firm announced an investigation on behalf of Uber investors for potential violations of securities laws. These developments have added to the volatility in Uber's stock, as investors grapple with the potential financial and reputational impacts of the lawsuit.

In a positive development, Uber and Volkswagen have announced a long-term strategic partnership to deploy autonomous ID Buzz vehicles on the Uber platform. This partnership is expected to enhance Uber's autonomous vehicle capabilities and expand its service offerings, which has positively impacted Uber's stock, contributing to its rise. The collaboration with Volkswagen is seen as a strategic move that could drive future growth and innovation for Uber, potentially offsetting the negative impact of the FTC lawsuit.