While everybody knows that I’m bearish on the market overall – and especially on The Magnificent 7 – there are a few growth stocks I like. In fact, when it comes to Uber (UBER) I’m one of the biggest bulls around – and 2Q24 results just released bolster my conviction. 2Q24 Mobility + Delivery Bookings increased 20% and Revenue was +16%. Adjusted EBITDA of $1.57 billion is an all time quarterly high. And UBER’s guidance for 3Q24 suggests more of the same. While UBER is not recession proof, I continue to believe it will be one of the best performing stocks in the market over the next ten years and am holding a significant position despite my bearish macro view. Uber shares are currently up more than 6% in the premarket.More By This Author:The Market Is Starting To Price In A Recession, The Magnificent 7 Are Played OutMCD Earnings Suggest The Economy Is Rolling Over; Small Cap Summer Has Been CanceledCMG Is Cooked
