Uber Sheds 25% as Robotaxi Fears Hammer Stock
Uber's market cap dropped to roughly $150B as investors bet the autonomous future belongs to Waymo and Tesla.
Uber is getting crushed by a narrative it can't escape. The ride-hailing giant's market cap has plummeted to approximately $150 billion — a roughly 25% decline over just six months.
The culprit? Wall Street increasingly sees the robotaxi race as a two-horse contest between Waymo and Tesla, and Uber isn't one of the horses.
Waymo's momentum in autonomous ride-hailing has become impossible to ignore. Meanwhile, a broader AI-driven selloff has punished companies investors perceive as vulnerable to disruption rather than driving it.
The counterargument: Uber's massive operational scale — its network of riders, drivers, and logistics infrastructure — may be significantly undervalued in the current panic. But for now, the market doesn't care.
Uber finds itself stuck in an uncomfortable position: profitable today, but perpetually overshadowed by what tomorrow's autonomous fleets might look like without it.