Wall Street overlooked a huge loss for the quarter and shares jumped nearly 13% before the opening bell Tuesday.
Uber lost $2.6 billion, or $1.33 per share, for the three months ended June 30. This included a $1.7 billion net headwind related to Uber's equity investments, which was mostly related to the revaluation of its stakes in Aurora Innovation Inc., Grab Holdings Inc. and India's food delivery company Zomato. The loss also included $470 million in stock-based compensation expense.
https://www.ksat.com/business/2022/08/02/uber-gains-momentum-in-2nd-quarter-investors-look-past-loss/
Stupid people do stupid things. They will all lose their money in the end. That is if they don't sell the stock they bought soon.