fbpx

How to Buy Uber Stock

Benzinga Money is a reader-supported publication. We may earn a commission when you click on links in this article. Learn more.

Jump straight to Webull! Get real-time market data, analysis tools and $0 commissions.

In 2009, two computer developers joined forces to create a better way to get around town. Garrett Camp wanted to spend a fun night out on New Years Eve, but needed to cough up $800 for a private driver between him and his friends. Camp hated paying this much for basic transportation and hatched an idea for a cheaper alternative.

Buy Uber Stock

You can’t walk a block in any major U.S. city without seeing an Uber decal on the back windshield of every other car. With a few exceptions, Uber’s operation has now reached nearly every city in the country.

Symbol Company % Change Price Invest
UBER Uber Technologies
– 5.44%
$53.06 Buy stock

If you want to invest in Uber, it’s worth noting the company has a global presence and is still growing. Uber offers global ride sharing services in the European Union, Africa and Asia, among other global markets.

How Do You Invest in Uber?

It doesn’t seem like Uber has any plans of slowing its pace to stay number 1 in the ever-evolving rideshare community. In over 10 years, Uber has quickly expanded to food delivery, freight, boat, bike, as well as entering the air and autonomous travel sectors.

To invest in Uber stock you must have a brokerage account. The following are our recommended brokerage accounts.

Read Benzinga’s guide on how to invest in recent IPOs

Best For
Intermediate Traders and Investors
Overall Rating
Get started securely through Webull’s website
Best For
Intermediate Traders and Investors
N/A
1 Minute Review

Webull, founded in 2017, is a mobile app-based brokerage that features commission-free stock and exchange-traded fund (ETF) trading. It’s regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

Webull offers active traders technical indicators, economic calendars, ratings from research agencies, margin trading and short-selling. Webull’s trading platform is designed for intermediate and experienced traders, although beginning traders can also benefit.

Webull is widely considered one of the best Robinhood alternatives.

Best For
  • Active traders
  • Intermediate traders
  • Advanced traders
Pros
  • Commission-free trading in over 5,000 different stocks and ETFs
  • No account maintenance fees or software platform fees
  • No charges to open and maintain an account
  • Leverage of 4:1 on margin trades made the same day and leverage of 2:1 on trades held overnight
  • Intuitive trading platform with technical and fundamental analysis tools
Cons
  • Does not support trading in mutual funds, bonds or OTC stocks
Best For
Futures Trading
Overall Rating
Get started securely through TradeStation’s website
Best For
Futures Trading
N/A
1 Minute Review

TradeStation is for advanced traders who need a comprehensive platform. The brokerage offers an impressive range of investable assets as frequent and professional traders appreciate its wide range of analysis tools. TradeStation’s app is also equally effective, offering full platform capabilities.

Best For
  • Advanced traders
  • Options and futures traders
  • Active stock traders
Pros
  • Comprehensive trading platform and professional-grade tools
  • Wide range of tradable securities
  • Fully-operational mobile app
Cons
  • Confusing pricing structure to leave new traders with a weak understanding of what they pay
  • Cluttered layout to make navigating TradeStation’s platform more difficult than it should be
Best For
Options Trading
Overall Rating
Get started securely through TD Ameritrade’s website
Best For
Options Trading
N/A
1 Minute Review

This publicly listed discount broker, which is in existence for over four decades, is service-intensive, offering intuitive and powerful investment tools. Especially, with equity investing, a flat fee is charged, with the firm claiming that it charges no trade minimum, no data fees, and no platform fees. Though it is pricier than many other discount brokers, what tilts the scales in its favor is its well-rounded service offerings and the quality and value it offers its clients.

Best For
  • Novice investors
  • Retirement savers
  • Day traders
Pros
  • World-class trading platforms
  • Detailed research reports and Education Center
  • Assets ranging from stocks and ETFs to derivatives like futures and options
Cons
  • Thinkorswim can be overwhelming to inexperienced traders
  • Derivatives trading more costly than some competitors
  • Expensive margin rates
Best For
Advanced traders
Overall Rating
Get started securely through Moomoo’s website
Best For
Advanced traders
N/A
1 Minute Review

Moomoo is a commission-free mobile trading app available on Apple, Google and Windows devices. A subsidiary of Futu Holdings Ltd., it’s backed by venture capital affiliates of Matrix, Sequoia, and Tencent (NASDAQ: FUTU). Securities offered by Futu Inc., regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

Moomoo is another great alternative for Robinhood. This is an outstanding trading platform if you want to dive deep into smart trading. It offers impressive trading tools and opportunities for both new and advanced traders, including advanced charting, pre and post-market trading, international trading, research and analysis tools, and most popular of all, free Level 2 quotes.

Get started right away by downloading Moomoo to your phone, tablet or another mobile device.

Best For
  • Cost-conscious traders
  • Novice traders
  • Active/Advanced traders
Pros
  • Free Level 2 market data for all users who open an account
  • Commission-free trading in over 5,000 different stocks and ETFs
  • Over 8,000 different stocks that can be sold short
  • $0 contract fee for trading options, no commission either
  • Strong market data and analysis tools with over 50 technical indicators
  • Access trading and quotes in pre-market (4 a.m. to 9:30 a.m. ET) and post-market hours (4 p.m. to 8 p.m. ET)
  • No minimum deposit to open an account.
  • Active trading community with more than 100,000 app users
Cons
  • No phone or chat support

Should I Invest?

Uber, so ubiquitous that the company name is now a verb, remains at the forefront of autonomous vehicle research. The company can’t seem to get out of its own way at times and mercurial former CEO Travis Kalanick has never shied away from controversy (or confrontation). Now that we’re approaching 2 years since Uber’s IPO, let’s consider the pros and cons of investing in Uber.

Pros

  • Variety of services: Uber does more than just transport passengers from point A to point B. UberPOOL is a service that allows customers to carpool for cheaper rides. UberEats is a delivery service that supplies food from chain restaurants like McDonald’s, Papa John’s or local establishments. These new services allow Uber to find revenue streams from different customer bases.
  • Simple, convenient process: The entire process of summoning an Uber, meeting the driver and reaching your destination is simple and way more convenient than a cab.
  • Autonomous car research: Driverless cars are Uber’s eventual goal; the company will make far more in profit if it doesn’t have to pay a driver. The program was temporarily shut down following a fatality last year, but Uber continues to aggressively explore autonomous vehicles.
  • Prop 22: In recent news, a majority “yes” vote on Prop 22 in the state of California recently allowed Uber and Lyft to be exempt from classifying their drivers as employees. This is seen as a big win for both companies who, as a result, are not required to offer employee benefits like health care.

Cons

  • Constant controversy: Uber has frequently attracted negative news coverage. The company has always considered itself a renegade and has been caught using illegal technology to prevent regulators from using its service. Reports of sexism and toxic workplace culture at Uber are plentiful, and former CEO Kalanick has been caught on camera in an altercation with an Uber driver.
  • Large annual losses:  A good reason to avoid investing in a company? If it doesn’t make any money. Uber reported a loss of $2.8 billion in 2016, a $4.5 billion loss in 2017, followed by a $865 million loss in 2018. The company wants to increase fares and use autonomous vehicles to boost revenue, but neither option seems likely to happen soon.
  • Coronavirus pandemic: As the world continues to manage the coronavirus pandemic, it’s worth calling into question the future financial viability of ride sharing apps.
  • The rise of competitors: Uber may have snapped up all the work from taxis, but Lyft has begun cutting into Uber’s territory as well. Lyft has stolen 27-35% of the rideshare market from Uber in certain cities, a trend that might continue because of Uber’s not-so-spotless reputation.
  • Customer satisfaction: Uber has earned 4.7 stars from 1.2 million ratings in Apple’s app stores as of publishing. Uber trails Lyft from a customer satisfaction perspective. Lyft has garnered 4.9 stars from 8.7 million ratings.

Final Thoughts

Uber smashed all boundaries in the business of getting people from point A to point B. The service is convenient, easy to navigate, and completely cashless. As a company, Uber has a number of red flags as it met its 2019 IPO and those need to be considered if you’re a potential investor.

Turn to Webull

0 Commissions and no deposit minimums. Everyone gets smart tools for smart investing. Webull supports full extended hours trading, which includes full pre-market (4:00 AM - 9:30 AM ET) and after hours (4:00 PM - 8:00 PM ET) sessions. Webull Financial LLC is registered with and regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). It is also a member of the SIPC, which protects (up to $500,000, which includes a $250,000 limit for cash) against the loss of cash and securities held by a customer at a financially-troubled SIPC-member brokerage firm.