Rising gasoline prices could help or harm ride-hailers. It might depend on who they expect to pay the tab.
Ride-hailers have been assuring investors since Covid-19 first hit that a full recovery is inevitable, but a prolonged pandemic has kept their shares depressed. Now it seems macroeconomic trends could compound that pressure even if others recede. Shares of
and
are both down more than 40% over the past year.
Uber’s Chief Executive Officer
Dara Khosrowshahi
said Monday he expects the coming travel season to be one of the strongest ever. But it might be one of the most expensive to get around. As of February, retail gas prices had already risen nearly 40% year on year nationally,…
