Uber climbs 4% as it strikes a deal with black cabs đ
Once rivals, now partners:Â After decades of battling for road supremacy, Uber and Londonâs iconic black cab taxis are now teaming up.Â
Luring cabbies in:Â Black cab drivers will now be able to find passengers via Uberâs app and for the first 6 months, Uber wonât take any commission.Â
Crunching the numbers: There are around 15,000 black cab drivers in London, with 300,000 trips happening in the capital each day, so itâs a serious market for Uber to tap into.Â
*Ratings are provided by analysts at Zacks, a leading investment research firm
Amazon up 3% as it wins the battle of the brown boxes đŚ
Number 1: Amazon has surpassed UPS and FedEx to become the USâ biggest package delivery firm.Â
Meeting demand:Â In 2022, Amazon delivered 4.8 billion (yes, billion) packages in the US. This year, itâs set to deliver an additional 700 million more.Â
UPS? More like USP:Â Amazonâs greatest strength is that it doesnât rely on other delivery services like UPS. It can control its speed and reduce costs using its own network.
*Ratings are provided by analysts at Zacks, a leading investment research firm
iRobot soars 22% amidst Amazon takeover đ¤
Cleaning up: The maker of Roomba vacuums surged 39% after a report said the European Union is set to approve Amazonâs acquisition of the company.
Crossed wires: But at the start of this week, the EUâs antitrust watchdog raised issues with the deal relating to âcompetition concernsâ. Is Amazon monopolising the market?
Still in the green:Â The news caused shares to fall 17%, but still left the stock in the green by 22%. Takeover or not, the company is attracting serious attention from the top dogs.
*Ratings are provided by analysts at Zacks, a leading investment research firm
What have we learned this week? đ¤
Uberâs got a foot in the door:Â By giving black cab drivers 6 months of commission-free trips, Uber is strategically incentivising drivers to sign up to its app.
Amazon is self sustainable:Â What separates Amazon from most ecommerce companies is its delivery network. Itâs perhaps the most important part of its business.
Monopolistic behaviour is a problem for Amazon:Â Amazonâs strategy to buy out companies is one thatâs worked well. But is it going one step too far? Time will tell.
Stock announcements đ
Tesla: Its âCyber Thursdayâ event streamed live on X last night, where the first set of Cybertruck deliveries were finally made. Will the long awaited vehicle boost Tesla sales?
Berkshire Hathaway:Â Vice President Charlie Munger sadly passed away on Tuesday. Investors will be keeping an eye on who Warren Buffett picks to be his new right-hand.
Gamestop: This quarter, the video game company released its long anticipated film Dumb Money. Investors will be keen to see its helped earnings on December 6th.
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*Figures and ratings correct as of November 29th 2023.
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