Jim Cramer’s Bearish Calls: 10 Tech Stocks Heading for a Crash

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

Number of Hedge Fund Holders In Q3 2024: 136

Date of Cramer’s Comments: 08-26-24

Performance Since Then: -15%

Uber Technologies, Inc. (NYSE:UBER) is the biggest ride-sharing service provider in America. Estimates show that the firm controls 76% of US ride-sharing spending, and this business also accounted for 51% of its revenue during H1 2024. Consequently, Uber Technologies, Inc. (NYSE:UBER) depends on consumer spending and economic activity for its financial and share price health. The stock fell by 7% in October when bookings for the quarter missed analyst estimates, and overall, it has gained a modest 5.70% year-to-date. Uber Technologies, Inc. (NYSE:UBER) is also facing competition in the autonomous driving market, as was evident in December when the shares fell by 9.6% after Google’s Waymo announced that it would be expanding to Miami. Here’s what Cramer said in August:

“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.”