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Max Knoblauch

Uber and Lyft shares tap the brakes on a potential “long-term threat” from Tesla robotaxis

Ride-hailing biggies Uber and Lyft each experienced notable declines Thursday after Tesla CEO Elon Musk said his company is ahead of schedule in its plan to launch its robotaxi service in Austin next month.

Shares of both ride-share companies were down roughly 4% today.

Though recent reporting states that government officials still don’t have the information required to give Tesla’s planned June 12 robotaxi launch the OK, investors appear slightly optimistic — and they see the service as bad news for ride-hailing.

According to a Wedbush Securities note published Thursday, Tesla’s robtaxi rollout “serves as a long-term threat to Uber’s business model.” The firm adds that “Uber’s position may not be as solid as recent stock performance suggests when / if autonomous hits its stride.”

That’s not to say Uber and Lyft are without their own autonomous plans. Uber, in partnership with Waymo, launched driverless rides in Austin back in March, while Lyft has its sights set on Dallas “as soon as 2026” in a partnership with Mobileye.

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eBay stock slumps on gloomy Q4 outlook despite solid Q3 earnings

Shares of eBay fell as much as 10.5% in premarket trading on Thursday morning after the company gave a lower-than-expected profit forecast for the important holiday shopping season.

The e-commerce giant reported solid numbers for the third quarter on Wednesday, with revenue up 9% as reported to $2.8 billion and gross merchandise volume rising 10% to $20.1 billion, topping the average analyst forecast of $19.4 billion, per Bloomberg.

However, concerns about the future somewhat overshadowed these results.

eBay outlined its profit outlook for the period ending in December to $1.31 to $1.36 a share, with revenue at $2.83 billion to $2.89 billion. According to Bloomberg-compiled data, this broadly matches Wall Street’s estimates for the top line, but misses on the bottom line, with analysts forecasting EPS to come in at $1.39 — suggesting the company expects some further margin pressure.

The company has been facing macroeconomic challenges since the US ended the de minimis tariff exemption in late August, with the online marketplace reliant on shipments. One small silver lining? CFO Peggy Alford highlighted a “less durable trend” on a post-earnings call: that as commodity prices for precious metals boomed, demand for bullion and collectible coins on eBay spiked.

EBay Falls After Giving Weak Profit Outlook for Holiday Period

eBay Bloomberg 10/30

However, concerns about the future somewhat overshadowed these results.

eBay outlined its profit outlook for the period ending in December to $1.31 to $1.36 a share, with revenue at $2.83 billion to $2.89 billion. According to Bloomberg-compiled data, this broadly matches Wall Street’s estimates for the top line, but misses on the bottom line, with analysts forecasting EPS to come in at $1.39 — suggesting the company expects some further margin pressure.

The company has been facing macroeconomic challenges since the US ended the de minimis tariff exemption in late August, with the online marketplace reliant on shipments. One small silver lining? CFO Peggy Alford highlighted a “less durable trend” on a post-earnings call: that as commodity prices for precious metals boomed, demand for bullion and collectible coins on eBay spiked.

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