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Uber investigates alleged hacking of the company's Slack

Yahoo Finance anchors discuss a Slack hack incident at Uber.

Video Transcript

- All right, my play today is Uber shares falling on news that the company is investigating a cybersecurity incident. Now, the "New York Times" reporting a hacker accessed Uber's internal systems by compromising the Slack account of an employee. Now, Uber has said in a statement that it is responding to the breach and in touch with law enforcement.

And RBC analyst Brad Erickson called the stock drop today a, quote, overreaction, and said that he doesn't expect an impact to demand associated with this hack. Right now, shares off just about 3.5%, so off the lows of the day. Dave, though, this is a bit concerning here for Uber. We talk about the fact that the company has struggled really to get momentum, to truly turn things around, stock off just over 20% year to date. A breach like this could have much wider implications.

- Yeah, I tend to agree with the analyst. I don't think this is much of a stock story. Hire this kid. He's 18 years old, or at least claims to be 18. He said he Slacked somebody at Uber and simply got their login credentials and then he was off to races. And now he has their source code. Hire the kid. A bigger stock story for Uber, I think, is Dara saying he wants to go all electric by 2030. That's five years ahead of California. That is completely unrealistic in this country to ask these drivers to all have an EV by 2030.

- I know. It's--

- That is a bigger stock story.

- It's already so hard to get an Uber now.

- Impossible.

- Imagine if they all have to be electric. We're never going to be riding in them.

- Let alone the cost of each Uber trip, which is already going through the roof.