Uber’s Rally Takes a Breather. Could the Next Move Higher Be Even Bigger?

Uber (UBER) is one of the top-performing large-cap stocks in 2025. The stock has surged 53% year-to-date, far outpacing the S&P 500 Index ($SPX), which is up 9% over the same stretch. The rally has been driven by strong business momentum, reflected through steady growth in trips and gross bookings with robust demand for both its ride-hailing and delivery services. Moreover, its unique positioning in the fast-evolving autonomous vehicle industry further pushed its share price higher.

Yet after months of momentum, Uber’s stock seems to have paused for breath. Over the past month, shares have slipped more than 3%, even as the company’s second-quarter results on Aug. 6 beat Wall Street’s expectations.