Latest news with #JoshBrown
Yahoo
15 hours ago
- Business
- Yahoo
Legendary Investor Josh Brown Is Betting Big on This 1 Robotaxi Stock (Hint, It's Not Tesla)
Ritholtz Wealth Management chief executive Josh Brown expects Uber (UBER) shares to remain a top beneficiary of the booming autonomous vehicle market. In fact, the ride-hailing giant is currently his largest personal holding because of that conviction, he revealed in a recent interview with CNBC. Tesla's Robotaxis Reportedly Sped and Veered Into the Wrong Lanes. Does This Crush the Bull Case for TSLA Stock? Dear Micron Stock Fans, Mark Your Calendars for June 25 Up 93% in 2025, Palantir Stock Is Too Hot to Handle Here Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. Uber stock has been in a sharp uptrend in recent months – and is currently up some 50% versus its April low. Brown's bullish remarks on Uber shares arrive shortly after the mobility firm extended its robotaxi services to Atlanta, which the market veteran dubbed 'super important' in his CNBC interview. According to him, self-driving vehicles from all OEMs (Tesla (TSLA), Waymo, or any other) is a massive positive for UBER as the technology removes the human driver – 'the most expensive part of the experience for both the consumer and the company.' The Ritholtz chief executive believes the NYSE-listed firm will continue to sign new partnerships with autonomous businesses, which he's convinced will deliver a meaningful boost to its profitability over time. On Wednesday, Josh Brown also confirmed that he wouldn't sell UBER stock even if it surpasses $100 in the weeks ahead. Josh Brown expects self-driving partnerships to bolster UBER's already strong financials. In May, the ride-hailing giant reported $0.83 of EPS for its fiscal Q1 – well above Street estimates. Investors should also note that the NYSE-listed firm already has about a dozen partnerships with autonomous players. Just this month, it teamed up with Wayve on 'level 4' self-driving vehicles in London. That made Justin Post – a senior Bank of America analyst – reiterate his 'Buy' rating on Uber shares with a price target of $97, which indicates potential for another 8% rally from current levels. UBER does not currently pay a dividend, though. Wall Street analysts seem to share Brown's optimism on UBER stock, given the consensus rating on the ride-hailing giant currently sits at 'Strong Buy.' Analysts' price targets on Uber Technologies go as high as $115 at the time of writing, indicating potential upside of more than 25% from here. On the date of publication, Wajeeh Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
CNBC
2 days ago
- Business
- CNBC
Josh Brown's Best Stocks in the Market: Coupang
Josh Brown, CEO of Ritholtz Wealth Management, joins CNBC's "Halftime Report" to explain why Coupang is being added to his "Best Stocks in the Market."
CNBC
4 days ago
- Business
- CNBC
Josh Brown reveals largest stock position personally, expects benefit from autonomous boom
Josh Brown, CEO of Ritholtz Wealth Management, on Tuesday revealed that Uber is the biggest position in his personal portfolio, calling it his highest conviction pick on the back of the autonomous driving boom. The widely followed investor said Uber is poised to benefit from robotaxi rollouts from Tesla, Waymo and any other players as the technology experience eliminates the most costly part of the operation — the human driver. "Uber's role in this ecosystem is to partner with all of the autonomous players who are going to exist and make money as a result of the fact that the human driver is the most expensive part of the experience for both you, the consumer, and for Uber, the company," Brown said on CNBC's " Halftime Report ." "This is all positive for Uber. The Street is waking up to that." Uber shares jumped more than 8% after Waymo robotaxis became available to Uber users in Atlanta as the companies expanded their ride-hailing partnership in the U.S. Meanwhile, Tesla rolled out autonomous robotaxis in Austin, Texas, on Sunday to a limited group of testers. The launch puts Tesla head-to-head with Alphabet-backed Waymo. UBER 1D mountain Uber "The rollout of Uber and Waymo together in Atlanta is super important. It's a whole other region of the country where people will log into the Uber app, see that there's an autonomous vehicle … take that ride and have their minds blown," Brown said. "That's what the stock is reacting to right now." Uber shares have rallied more than 52% to about $92 per share this year, significantly outperforming the broader market. Brown said he's not going to take profit anytime soon. "I don't know why it's under $100 a share — it makes no sense to me — and even when it gets there, I'm not selling," he said. DISCLOSURES: All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL'S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. INVESTING INVOLVES RISK. EXAMPLES OF ANALYSIS CONTAINED IN THIS ARTICLE ARE ONLY EXAMPLES. THE VIEWS AND OPINIONS EXPRESSED ARE THOSE OF THE CONTRIBUTORS AND DO NOT NECESSARILY REFLECT THE OFFICIAL POLICY OR POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC. JOSH BROWN IS THE CEO OF RITHOLTZ WEALTH MANAGEMENT AND MAY MAINTAIN A SECURITY POSITION IN THE SECURITIES DISCUSSED. ASSUMPTIONS MADE WITHIN THE ANALYSIS ARE NOT REFLECTIVE OF THE POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC" TO THE END OF OR OUR DISCLOSURE. Click here for the full disclaimer.
CNBC
4 days ago
- Business
- CNBC
Josh Brown's Best Stocks in the Market: Disney
Josh Brown, CEO of Ritholtz Wealth Management, joins CNBC's "Halftime Report" to explain why he's adding Disney to his "Best Stocks in the Market"
CNBC
4 days ago
- Business
- CNBC
Josh Brown: Uber's role in autonomous cars is to partner with everyone and make money
Josh Brown, CEO of Ritholtz Wealth Management, joins CNBC's "Halftime Report" to weigh in on Uber's share surge.
