Uber Technologies Inc UBER shares are trading higher by 4.17% to $32.63 Wednesday afternoon as the stock rebounds after falling on Tuesday amid an overall market selloff.
What Happened?
Uber shares were otherwise trading lower during Tuesday's session following worse-than-expected US inflation readings. High inflation and expectations of further Fed rate hikes could pressured the economy and weigh on ride sharing demand as consumers cut back on non-essential spending.
See Also: What's Going On With Tesla Stock Today
According to data from Benzinga Pro, Uber has a 52-week high of $48.88 and a 52-week low of $19.90.
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