Uber Technologies Inc. (NYSE:UBER) announced its new holiday hub on the Uber Eats platform. The new offering will include seasonal goods like Christmas trees and wreaths in selected cities like Los Angeles, San Diego, and West Palm Beach.

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The first-of-its-kind category will expand and rotate in 2022, providing goods and décor for different holidays throughout the year.

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This month, the site is offering a promotion for items purchased at gifting and specialty food sites.

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STOCK PERFORMANCE

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Following the news, Uber shares have dropped 1.1% on Tuesday. However, the stock pared its losses slightly to close at $38.35 in the extended trading session.  

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Surprisingly in 2021, Uber stock has performed poorly with a decline of 23.5%, while back in February, the stock was reaching a clear uptrend touching a high of $64.05.

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Informed investors should keep in mind that Uber is not limited to a single country, and overall, doesn’t seem as if UBER’s low stock price reflects the company’s genuine intrinsic value.  

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In addition, it seems as if Uber is taking the necessary steps to increase its market footprint internationally while extending its business offerings.

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The consensus among 25 Wall Street analysts covering Uber stock is to Strong Buy Uber in 2021.

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Out of 25 analysts, 17 (68%) are recommending UBER as a Strong Buy, 8 (32%) are recommending UBER as a buy, and 0% are recommending it as either a Hold, Sell, or Strong Sell.

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ABOUT UBER

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Uber’s mission is to create opportunity through movement. The company started in 2010 to solve a simple problem; how to gain access to a ride at the touch of a button.  

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Over 15 billion trips later, Uber builds products to get people closer to where they want to be. Uber is a platform that opens up a world of new possibilities by changing how people, things, and food move around cities.

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