Jim Cramer’s 10 Stock Picks You Shouldn’t Miss

3. Uber Technologies Inc. (NYSE:UBER)

Number of Hedge Fund Investors: 145

Jim Cramer advised a viewer that while Uber Technologies Inc. (NYSE:UBER) is performing exceptionally well, it might be wise to buy some shares now and wait for a potential pullback before buying more. He noted that Uber Technologies Inc. (NYSE:UBER) ‘s stock has risen significantly this month, so investors should be cautious and consider purchasing only a portion of their intended investment.

“I actually like buying some Uber here and then waiting for a little bit of a pullback. Uber is doing incredibly well, and you may not get that pullback, so I want you to get some on the sheets as we talk about it. It is up a lot this month, so let’s be careful and only buy some, not all.”

Uber Technologies Inc. (NYSE:UBER) presents a compelling investment opportunity due to its diverse business model and strong financial performance. Uber Technologies Inc. (NYSE:UBER) generates revenue from ride-hailing, food delivery through Uber Eats, and freight logistics via Uber Freight. This variety helps reduce reliance on any single area and captures revenue from multiple sources. Uber Technologies Inc. (NYSE:UBER)’s expansion into international markets, especially in Latin America and Asia, is tapping into growing demand for its services.

Uber Technologies Inc. (NYSE:UBER) is also making significant investments in technology, including autonomous driving and electric vehicles, which could boost its long-term profitability and market position. In Q2 2024, Uber Technologies Inc. (NYSE:UBER) reported revenue of $9.2 billion, a 20% increase from the previous year, reflecting its solid financial growth. Strategic partnerships and acquisitions are further enhancing its market presence and service capabilities.