Uber's Stock Plunges on Scandal as $2.38 Billion Volume Ranks 24th in Market Activity

Uber (UBER) fell 3.36% on August 8, 2025, with a trading volume of $2.38 billion, ranking 24th in market activity. The decline followed the release of sealed court documents revealing 400,181 reports of sexual assault and misconduct between 2017 and 2022, far exceeding the 12,522 incidents disclosed in its biennial safety reports. The data, part of a consolidated class-action lawsuit, highlighted allegations that Uber failed to properly vet drivers, report incidents to authorities, or remove sex offenders from its platform. Company officials clarified that most reported cases involved non-physical misconduct, such as inappropriate comments or language, though the sheer volume of complaints raised questions about platform safety.

Uber has introduced features like its "women preferences" pilot in Los Angeles, San Francisco, and Detroit to address concerns, but the efficacy of such measures remains unproven. A U.S. safety head noted that reported cases accounted for 0.006% of 6.3 billion trips between 2017 and 2022, yet emphasized there is no "tolerable" level of sexual assault. The company faces its first sexual assault trial in September, signaling heightened legal and reputational risks. Meanwhile, the lawsuit alleges Uber’s app design failed to inform users about driver misconduct histories, further complicating its liability exposure.

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