Top 5 Stocks for 2022 According To Chet Kapoor’s Tenzing Global Investors

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

Ranking second on this list is Uber Technologies, Inc. (NYSE:UBER), which Tenzing has owned since the third quarter of 2019. The money manager added another 250,000 shares of the ride-sharing operator to its 13F portfolio during Q3, lifting its holding to 1.33 million shares valued at $59.36 million.

Uber Technologies, Inc. (NYSE:UBER) has proven to be extremely popular among hedge funds over the past two years, with ownership of the stock tripling during that time. UBER shares have tumbled by 39% over the past nine months however as the company remains unable to generate net income or free cash flow.

Its food delivery and freight services may be able to help in this regard in the future, as the financials for both are improving and Uber Technologies, Inc. (NYSE:UBER)’s ride-sharing platform appears to be hitting its stride again coming out of the worst of the pandemic, with bookings hitting a record high in October. The company was also EBITDA positive in Q3 with expectations for the same in Q4.

ClearBridge Investments, an investment management firm, published its “Large Cap Growth Strategy” third quarter 2021 investor letter and mentioned Uber Technologies, Inc. (NYSE:UBER). Here is what the fund said:

“We have also been looking for multiyear secular trends outside of the IT and Internet sectors to help us maintain a portfolio that can perform well in markets with varied sector or factor leadership. In particular, electrification of the global economy and the transition to electric vehicles (EVs) are areas where we continue to add exposure. We are investing in the brains behind EVs through NXP in the control center and Aptiv for safety features. Global rideshare leader Uber will also be a key player in the transition from internal combustion engines to EVs.”

You can also take a peek at 10 Tech Stocks To Buy According To Billionaire George Soros and Analysts Think These 10 Stocks Are Overvalued.

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