Ride-share and delivery company Uber Technologies (NYSE:UBER) has some Christmas deliveries that could help provide a publicity and sales bump as the stock faces pressure from autonomous driving companies.
What Happened: If you're one of the Americans who prefer having a real Christmas tree each year, but don't have the time to go buy one in person, Uber could have the solution for you along with its growing list of restaurant food it will deliver to your home.
Uber is expanding its on-demand Christmas tree ordering, a service it launched in 2015 and has optimized on and off over the years, The Verge reported.
The company partners with local vendors and for 2024 has expanded the offering nationwide. Uber drivers will bring a fresh-cut Christmas tree to homes and also a selection of Christmas decorations like wreaths. The service can be booked through the Uber Eats app.
While Uber users nationwide can get a Christmas tree delivered, only select cities will have access to the newest holiday "delivery."
Uber will send groups of carolers to homes in New York City, Dallas, Los Angeles, Miami and Washington D.C. starting on Dec. 7. Uber partnered with alcohol company Diageo on the carolers launch as the company and carolers will also bring you a holiday boozy treat as part of the partnership.
Why It's Important: While Uber offering Christmas trees and carolers might not scream revenue growth, it could be a good way to promote the company's expansion outside of just ride share or simply delivering restaurant foods to homes.
Uber is also rebranding its same-day delivery service from Uber Connect to Uber Courier. The service offers deliveries of packages with PIN verification to confirm delivery and live trip tracking.
The company is also expanding its car seat offering to more cities, potentially providing more safety features for parents with small children looking for alternative transportation.
The launch comes as Uber is facing competition from autonomous driving in larger cities and could face more competition from Tesla's future robotaxi launch.
Uber stock fell Thursday on news that Alphabet Inc (NASDAQ:GOOG)(NASDAQ:GOOGL) owned Waymo is launching in Miami in 2026.
Waymo will launch with human safety drivers in the city in 2025 with rides offered without safety drivers in 2026 as part of the company's robotaxi service.
UBER Price Action: Uber stock is down 10% to $65.32 on Thursday versus a 52-week trading range of $54.84 to $87.00. Uber stock is up 11.9% year-to-date in 2024.
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