Shares of Uber Technologies Inc (NYSE: UBER) were cruising at all-time highs as recently as October. They've slipped considerably since then, and for investors, this will be frustrating. Shares of the ride-hailing giant have fallen a full 25%, with a particularly painful 10% drop last week. This was largely due to news of Waymo's expansion of its driverless taxis into Miami, which has many investors concerned about increased competition.
However, while it might sting in the short term, Uber's stock is still consolidating well within the range it spent much of the year in. As we head into the last couple of weeks of the year, with broader markets hitting fresh highs and a more favorable macro environment taking shape, this could be the time to be brave. Let's jump in and take a look.
