Maybe this negative article on UBER has something to do with the massive gap up.
Shorts have been pounding TAXI over the UBER threat. Perhaps consumers are becoming wary of letting unknown, untrusted persons know that they are out of their home and where their home is among other security concerns.
Anything that adds to UBER's cost is good for TAXI.
Anything that subtracts from UBER's popularity is good for TAXI.
Shorts have had a nice ride here since the 2/22 BusinessWeek article on UBER which seems to match the short driven decline in TAXI.
Shorts were up about 10% in 6 weeks before today. Only makes sense for them to cover at the first sign of a reversal.
There was also a positive article from TheStreet, saying TAXI and a few others were "Buy Rated Dividend Stocks". Typically only artices on TAXI are "3 Captial Market Stocks to Sell Now" from InvestorPlace
I tend to agree. TAXI has been massively shorted in recent months on the back of UBER threats. Once the ride sharing schemes have been regulated (and they will be) TAXI will continue to be a very good dividend stock. As for all the talk of them being a "greedy" bank if you look at their lending rates they are pretty reasonable.