There was a huge jump recorded in the Uber stock prices. The last Thursday, the company cracked a deal with New York City taxis. Curb And Creative Mobile will feature their software in Uber now. It will benefit the user to book a taxi from the app. Uber Stock went up to 4% on Thursday.
Guy Peterson, Uber’s business development, stated, “This is a real win for drivers – no longer do they have to worry about finding a fare during off-peak times or getting a street hail back to Manhattan when in the outer boroughs.
It is going to be a real win for the riders. They will now have access to everyone’s favorite New York taxis. The Uber app now features thousand of Yellow taxis with cabs now. This definitely is the basic reason for the splurge in Uber stock. With more number of people booking taxi rides, there will be a surge in taxi rides.
It is for all three companies. The Uber stock will see greater heights in the coming days. The agreement will land the company in a great position.
It is an essential step forward for Uber’s future. There was much-analyzed hostility. Traditional taxi services forms a great deal since their inception in 2009. Uber had ups and down both internally and in the marketplace.
This was also happening with Uber, Lyft, and other ride-hailing companies. They all faced a driver scarcity.
There was a sharp drop in travel. The coronavirus epidemic made it difficult for the comride-hailing businesses. They all have struggled to bring drivers back up. The labor constraint disturbed the flow of cash flows in all the companies. The full speed and increasing the cost of rides.