Eva Ados: Uber stock down 50% year-to-date is ‘not’ a buy

The ongoing risk-off in tech stocks has Uber Technologies Inc (NYSE: UBER) down nearly 50% at present. Still, shares of the ride-hailing company remain unattractive for ERShares’ Chief Investment Strategist.

Uber is not even close to breaking even

Eva Ados says she’d avoid a name like Uber that continues to lose money more than three years after it listed on the New York Stock Exchange. On CNBC’s “Power Lunch”, she noted:

Earlier this month, Uber reported a $5.90 billion loss for its fiscal first quarter. The San Francisco-based company blamed its equity investments in Grab, Aurora, and Didi for the quarterly loss.

Higher energy prices are not good for Uber

The ongoing war in Ukraine is keeping oil prices well above $100 a barrel, which, as per Eva Ados, is another significant headwind for Uber Technologies Inc. In her interview, she added:

Ados dubs Lyft Inc a better choice for investors right now than Uber. The latter recently announced plans of scaling back on hiring as part of a broader cost reduction programme.