Thursday 27 February 2020

Uber Stock falls a lot after February 21, 2020

Shares of ridesharing giant Uber Technologies (NYSE:UBER) have fallen today, down by 5% as of 11:40 a.m. EST. Much of the market is selling off due to fears surrounding the escalating coronavirus (COVID-19) outbreak. Also keep in mind, Uber lost its license to operate in London back in November.

Uber Technologies Inc is a huge ridesharing company. The website is It is an American multinational ride-hailing company offering services that include peer-to-peer ridesharing, ride service hailing, food delivery, and a micromobility system with electric bikes and scooters. The CEO is Dara Khosrowshahi (From Aug. 30, 2017). The stock is UBER (NYSE). The company was founded in March 2009, San Francisco, California, USA. Founders of Uber are Travis Kalanick and Garrett Camp.

Subsidiaries of Uber are:

Uber Eats
Uber International C.V.
Rasier LLC
Uber India Systems Private Limited
Mighty AI, Inc.
Geometric Intelligence Inc.
Portier LLC
orderTalk, Inc.
Post Intelligence Inc.
Xchange Leasing, LLC
Rasier-CA LLC
Uber India Technology
Uber Germany GmbH
Uber Works, Inc.
Complex Polygon, Inc.
Uber São Paulo
Uber Advanced Technologies Group

If you look at the Dow Jones Industrial Average, you can see it declines significantly after Feb. 21, 2020. This is similar to how Uber stock declines after Feb. 21, 2020. Dow Jones actually sank nearly 1,200 points amid coronavirus (COVID-19) worries. That was the worst 1-day drop since 2011. There is some fear that the coronavirus (COVID-19) will turn into a pandemic. There was also the worst point-drop for the Dow in history as stocks decreased 4 percent. The S&P 500 has now plunged 12% from the all-time high it set just a week ago. Stocks now could be headed for their worst week since October 2008 (during the global financial crisis).

Previously, some might have thought that the impact of the virus would largely be contained in China.

China's National Health Commission reported on Wednesday that the death toll on the mainland had surpassed 2,700, with a total of 2,715 people killed from COVID-19. The virus peaked in China towards the end of January, according to the World Health Organization (WHO), but the number of confirmed cases has surpassed 78,000.

South Korea reported 334 more cases, bringing its total to 1,595. Most of the new cases were in the country’s 4th-biggest city, Daegu.

A global recession is likely if COVID-19 becomes a pandemic (widespread or prevalent in the world).

The new coronavirus, now known as Covid-19, was first encountered in Wuhan, China, in December 2019. It now affected at least 80,000 people around the globe, causing at least 2,700 deaths.

The virus can cause pneumonia. The ill people suffer coughs, fever and breathing difficulties. In severe cases there can be organ failure. As this is viral pneumonia, antibiotics are of no use. The antiviral drugs we have against flu will not work. If people are admitted to hospital, they may get support for their lungs and other organs, as well as fluids. Recovery will depend on the strength of their immune system. Many of those who have died were already in poor health.

Read more here:

What is Covid-19? -

Throughout history, there have been various pandemics, such as smallpox and tuberculosis. One of the most devastating pandemics was the Black Death, which killed an estimated 75 - 200 million people in the 14th century.

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