5 Best Low Cost Stocks To Buy Under $75

1. Uber Technologies, Inc. (NYSE:UBER)

Share Price as of January 27: $65.40

Number of Hedge Fund Holders: 146

Headquartered in San Francisco, California, Uber Technologies, Inc. (NYSE:UBER) operates technology platforms connecting consumers with independent ride service providers. The company extends its services to various forms of transportation, such as public transit, bikes, and scooters. Additionally, Uber provides on-demand food delivery, freight services, business fleet solutions, and same-day delivery options. With a presence in over 70 countries, Uber serves more than 142 million monthly active platform consumers.

Earlier in November of 2023, Uber Technologies Inc (NYSE:UBER) unveiled its intention to issue $1.2 billion in five-year convertible bonds, slated to mature in 2028 and aimed at qualified institutional buyers. The ride-sharing company specified that a portion of the funds would be allocated to cover expenses related to entering capped call transactions, with the goal of mitigating dilution during the conversion into equity. Uber further outlined that the remaining proceeds would be utilized for the repayment, redemption, or repurchase of outstanding debt, including $1 billion of 7.5% notes set to mature in 2025.

At the end of the third quarter of 2023, Insider Monkey’s database showed that 146 hedge funds held stakes worth $8.1 billion in Uber Technologies, Inc. (NYSE:UBER), up from 144 in the preceding quarter worth $7.66 billion.

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