Uber to Join S&P 500 Index as Shares Surge

The ride-hailing company's inclusion in the benchmark index marks a major turnaround, with shares gaining over 141% this year and the service handling more rides than in 2019.

Uber's stock is set to join the S&P 500 index later this month, marking a significant turnaround for the company that struggled through much of the pandemic.
The inclusion in the S&P 500 can boost a stock as the index is widely tracked by many funds designed to mirror the holdings of the S&P 500, potentially driving up the price of the included stocks.
Uber's shares have gained over 141% this year, significantly outpacing the S&P 500's 18% rise.
The company's ride-hailing service has gradually bounced back and is now handling more rides than it did in 2019, raising hopes for consistent profitability.
Uber reported net income of $221 million on $9.29 billion in revenue for its third quarter, and in the past four quarters altogether, it generated more than $1 billion in profit.