SoftBank Dumps Uber Stock, But Uber’s Growth Is Accelerating

SoftBank (SFTBY) has completely sold off its position in Uber Technologies (UBER), according to a recent 13F filing. With UBER stock already trading significantly below its 52-week high of $101.99, this news may naturally trigger panic among investors. After all, SoftBank played a crucial role in the development of Uber before its initial public offering (IPO).

However, investors shouldn't get ahead of themselves, as Uber is currently experiencing no problems whatsoever with its operations. On the contrary, the company recently reported a strong quarter marked by a 20% increase in trips, 25% growth in gross bookings to $53.7 billion, and 33% growth in adjusted EBITDA to $2.5 billion.