A coincidence? $UBER
We identified an unusual insider purchase at Uber.
Yesterday, Uber's CFO made his first open market purchase of shares since 2022!
Note the data
CFO Krishnammurty Balaji purchased 22,450 shares at $71.25 for a total of $1,600,000.
This increased his holding by 357%!
To summarize again,
First purchase in 4 years, a substantial increase in position by almost 4 times, and a total amount of $1,600,000
What happened today?
Uber announced the launch of an Uber Air service in Dubai in partnership with Joby Aviation
As part of the collaboration, Uber will enable one-click booking of eVTOL flights through the app, in partnership with Joby's electric aircraft manufacturer.
Note the timeline: first commercial flights as early as next year, which will allow connection between cities in a 10-15 minute journey.
And we just have one small question:
Did the CFO's purchase happen 'by chance' the day before such a significant announcement?
We are monitoring