Uber's Trading Volume Drops to $14.25 Billion as Tesla's Robotaxi Threat Looms

On June 2, 2025, Uber's trading volume reached $14.25 billion, marking a 41.52% decrease from the previous day. The company's stock price fell by 0.62%, extending its losing streak to four consecutive days, with a total decline of 6.02% over the past four days.

Uber's stock experienced a significant drop following a report from Wedbush, which highlighted the potential threat posed by Tesla's upcoming robotaxi launch. The report suggested that Tesla's autonomous vehicle technology could pose a long-term challenge to Uber's business model, despite the company's strong performance in mobility and delivery initiatives. Wedbush maintained a neutral rating on Uber with a price target of $85, citing concerns about the lack of fresh catalysts and the stock's premium valuation.

However, other investment firms held differing views. BMO Capital, for instance, believed that Uber's stock was oversold and reiterated an outperform rating with a price target of $101. The firm cited Uber's international expansion, positive trends in autonomous vehicle adoption, and ongoing innovation as reasons for their optimism. Similarly, Tigress Financial raised its price target on Uber to $110, affirming a buy rating and highlighting the company's strong ridership and delivery demand, as well as its partnerships and innovation efforts.

Uber has been actively expanding its partnerships in the autonomous vehicle sector. In September, the company announced an expansion of its collaboration with Alphabet's Waymo to include Austin and Atlanta, building on its existing service in Phoenix. Additionally, Uber has partnered with Chinese autonomous vehicle company WeRide, launching a robotaxi service in Abu Dhabi. Uber's CEO, Dara Khosrowshahi, has expressed interest in working with Tesla and owns a Tesla vehicle himself, praising the company's technology.