Uber Gets A Major Robotaxi Win In London

Uber Technologies, Inc. (NYSE:UBER) stock rose nearly 3% in Wednesday’s premarket trading after the company moved a step closer to launching autonomous ride-hailing services in London.

Investors are also awaiting Uber’s second-quarter earnings report later Wednesday, which could provide another catalyst for the stock.

Transport for London Approves Wayve Vehicles

Transport for London (TfL) granted Private Hire Vehicle licenses to several Wayve electric vehicles, clearing a key regulatory hurdle for the planned rollout.

The Ford Mustang Mach-E vehicles use the Wayve AI Driver, cameras and radar. TfL confirmed they meet its policy and safety standards.

The approvals complete the requirement for the operator, driver and vehicle to hold licenses from the same authority. A trained, TfL-licensed driver will remain onboard to supervise and take control if needed.

More than 100,000 Londoners joined Uber’s interest list over the past eight weeks. Selected riders will receive early access later this summer before a broader public launch.

Uber Expands Autonomous Push

Wayve’s AV2.0 system does not rely on HD maps, hand-coded rules or fixed geofenced areas. The company has tested the technology in London since 2018 and demonstrated it across more than 500 cities.

Uber works with more than 30 autonomous-vehicle partners and is building a hybrid network of autonomous vehicles and human drivers.

UBER Technical Analysis: Key Levels And Momentum

Currently, Uber’s stock is trading at $73.90, which is approximately 3.4% above its 20-day simple moving average (SMA) of $71.57.

The stock is also 5.6% below its 200-day SMA of $78.35, indicating some resistance at higher levels. The Relative Strength Index (RSI) sits at 51.43, suggesting the stock is in a neutral position, neither overbought nor oversold.

This indicates that while there is some upward momentum, it is not yet strong enough to suggest a significant trend reversal.

• Key Resistance: $78.50 — a nearby level where rebounds can stall.
• Key Support: $69.50 — a nearby level where buyers previously stepped in.

Analyst Consensus & Recent Actions

The stock carries a Buy rating with an average price forecast of $107.50. Recent analyst moves include:

• Bank of America Securities: Buy (Lowers forecast to $103.00) (July 28)
• TD Cowen: Buy (Maintains forecast to $118.00) (July 17)
• BTIG: Buy (Maintains forecast to $100.00) (July 16)

UBER ETF Exposure: Funds With The Biggest Weights

• Invesco Nasdaq Internet ETF (NASDAQ:PNQI): 4.62% Weight
• Tremblant Global ETF (NYSE:TOGA): 4.75% Weight
• Pacer US Cash Cows Growth ETF (NYSE:BUL): 5.31% Weight

Significance: Because UBER carries significant weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock.

UBER Stock Price Activity: Uber Technologies shares were up 2.93% at $74.10 during premarket trading on Wednesday, according to Benzinga Pro data.

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