What is Uber Technologies Inc.?
Uber Technologies Inc. known as Uber was founded by Oscar Salazar Gaitan, Travis Kalanick and Garrett Camp in March 2009 with headquarters in San Francisco and it currently has more than 80 subsidiaries. The company is in the software-application industry and it develops and operates applications for ride-sharing and food and freight booking and delivery services.
Its business activities are categorised in five segments: Rides, Eats, Freight, Other Bets and Advanced Technology Group and Other technology programs. The rides segment aims at connecting clients with rides drivers, while the eats segment allows clients to search and order food and the client can also have the meal delivered. The freight segment links carriers with shippers with the possibility of booking a shipment.
Uber is relatively new on the stock exchange as it became a publicly-traded company through Initial Public Offering on 10 May 2019 at the New York Stock Exchange. Uber experienced a significant decrease in its market capitalisation during the first quarter of 2020, when the market cap fell to $35 billion (£30 billion) during March from the $70 billion (£60) in February 2020.
Past performance of Uber stock price
Uber is trading on NYSE for less than a year and during this period it has witnessed some ups and downs. The IPO expectations about Uber shares price were adjusted between $44 (£38) to $50 (£43) with expected company value of more than $80 billion (£69). However, Uber price on the IPO day was set at $45 (£39) when the company offered 180 million shares to the public with the aim to collect $8.1 billion (£7 billion) from the public offering. The trading started at $42 (£36), which is below the anticipated price.
Since it went public, Uber shares price has seen some significant changes. The available data shows that the company has managed to increase its revenues, reporting a high of $14 billion (£12 billion) in revenue for 2019.
How to invest in Uber stock
Traders can decide to profit from Uber price movement without actually buying or selling its stock because tokenised assets mimic the price changes of the reference asset.
The instrument which enables the aforementioned is the tokenised Uber shares available on Currency.com. The new type of instrument is created with the application of blockchain technology used in the process of recording data. Also, the technology used increases the efficiency in the execution of transactions because some intermediaries which put additional burden on the transaction costs became obsolete.
Moreover, before the creation of tokenised assets, investors with crypto holdings had to sell their cryptocurrencies and obtain fiat money before they could purchase Uber shares. This is not the case anymore, thanks to the tokenised assets. When you register on Currency.com, you can choose whether to buy tokenised assets directly with crypto or with fiat money. Thus, it means that traders don't have to experience additional costs to exchange their cryptocurrencies.
Another feature of the tokenised assets which should be mentioned is that traders stand to make higher profits due to the leverage of up to 1:100 offered by Currency.com. Namely, irrespective of whether you take long positions (speculate on price increase) or short positions (estimate price decline) you can open larger positions with the same amount of capital. Hence, you should know the margin available for tokenised Uber shares.
Let's say that you have $650 (£563) of capital available to invest in Uber stock and at a price of $13 (£11) you can purchase 50 shares on the open market. Assume that the price increases by 4 per cent, you can earn $26 (£22.5) from your long position. Now, consider how much a trader can make using the 5 per cent margin provided by Currency.com on the tokenised Uber shares. You can open a position worth $13,000 (£11,264) with the same amount of capital and gain exposure to the corresponding 4 per cent increase in price. Therefore, you can make a profit of $520 (£450) which is far more than the $26 profit from the NYSE.
Tokenised Uber stock trading guide
Don’t get confused by words such as blockchain, tokenised assets, leverage, or margin because they represent a technical jargon. In reality, trading tokenised Uber shares is as simple as trading stocks on the stock exchange. The Uber stock trading entails that you go through the next steps:
- Step 1: Create an account with Currency.com;
- Step 2: Add capital to your account, you can choose between crypto or fiat;
- Step 3: Define the size of your position based on the leverage offered by Currency.com
- Step 4: Define the type of position (buy or sell) you will enter with tokenised Uber shares;
- Step 5: Currency.com links the opposite orders opened by its clients and it can also hedge orders through Capital.com, LMAX Digital and other exchanges such as Binance, Bitstamp, Kraken, NASDAQ, NYSE and Gain Capital.
- Step 6: Wait for the convenient time to close your position or place a take profit order and decide whether you will withdraw your crypto or fiat or you will open new positions.
Why trade tokenised Uber shares with Currency.com
Uber stock trading at Currency.com tokenised assets exchange has a number of advantages. Tokenised assets are underpinned by robust and immutable blockchain technology. Opening a trade will give you a token that tracks and moves according to the underlying instrument's price.
- One-stop crypto trading platform
Trade tokenised Uber shares with Bitcoin or Ethereum. Benefit from the stock's price movements without turning your crypto assets into fiat.
Trade tokenised Uber stocks with a tight market spread, benefit from maker rebates and competitive taker fees.
Experienced traders can trade the world's top markets, like Uber, with up to 1:100 leverage.
- Effective risk management
Manage your risks and secure your profits with stop loss and take profit orders. Save your assets with negative balance protection.
We have a scalable and low latency order management system, which can execute 50 million trades per second.
Currency.com operates under new Belarusian regulation with best-in-class AML and KYC laws. Regulatory details and fees are upfront.