Uber to test ‘super app’ in the UK, Tilray pops on earnings beat, Rivian stock down
Uber is trying out a new app that will feature bus, train, and plane services in the UK, Tilray stock is up after its earnings beat and Whole Foods deal, and Rivian is down after reporting its Q1 vehicle production.
Video Transcript
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- Hey, welcome back to Yahoo! Finance Live, everyone. With just inside of 30 minutes left in today's trading activity, it is time for your Yahoo! Finance Triple Play-- Dave, Rochelle and myself. We've been keeping tabs on a few ticker symbols. Three names that we want to toss your way. And I'll start things off here on the day. The ticker symbol for me-- R-I-V-N, Rivian. Let's check in on them. This is coming after the company had reported production of 2,553 vehicles in the first quarter. Earlier in the day, Rivian shares were doing a little bit better, but as of right now, you're seeing them down.
And also with this report, they also did reaffirm some of their targets for the rest of this year. And particularly after that production number of 2,553 vehicles that the manufacturing facility in Illinois-- they delivered 1,227 of them, we should note, during that period. And the company is also saying it's well positioned to deliver on the 25,000 annual production guidance provided during its fourth quarter earnings call during March of 2022. The backdrop to all of this, of course-- the company coming into their IPO had approximately 48,390 R1T and R1S pre-orders in the United States and Canada from customers as well. So that's kind of the broader context for us to measure it up against.
- And honestly, a lot of people were really waiting for Rivian to come into its own being that, you know, it did have a lot of starting issues when it was coming out. Then it was also struggling in terms of getting its truck off the ground. So we'll have to see. I mean, obviously, when we remember-- when we were waiting for Tesla to become profitable, so who knows when that turning point will come for Rivian as well. Certainly, one to keep an eye on.
Now staying somewhat in the automotive field, my pick for the day is Uber-- with the ticker symbol of the same name, U-B-E-R. Now, I picked them because they've been making users. They've been trying to become a one-stop shop, super app. Obviously the stock not rewarded today, it's down just about 4.9% there. But it's actually because it's adding planes, trains, hotels, buses, and rental cars to the UK version of its app. Now, the train and bus services will launch over the summer, while flights will be added later this year. They'll also have hotels coming, but they did not specify the date that that will happen.
Now, the UK is actually one of Uber's largest markets outside of the United States. Now Uber won't be providing these travel services itself, but users can book these things through Uber's app following software integrations with platforms that sell tickets. So another example of Uber, sort of, stretching out its tentacles-- really trying to tap into other markets as opposed to just-- they used to just be a ridesharing company. Who knew they'd be doing all this down the road?
- But can they or will they buy out Lyft? As long as they have that competition, it seems to be a ceiling on Uber.
My play, nowhere near either of those. But I'm headed to the cannabis space with Tilray, the Canadian company. The stock symbol T-L-R-Y. They announced a distribution deal with Whole Foods today for some of their hemp products.
Their CEO also on this morning on Yahoo! Finance. And Irwin Simon told Brian Akiko his company has a goal of $4 billion in revenue by the end of '24. Also says, Tilray will hit that market by diversifying their offerings. He views them as a consumer product goods company.
Tilray swung to a third quarter net income of $43 million or $0.09 a share from a loss of $273 million. Today the share price right now up about 3 and 1/2%, very rarely is some good news for any of the cannabis stocks in recent days. So they will take it. Right now, $7.28 per share for the Canadian cannabis company. Guys.
- Certainly the irony of it, it finally getting into the green. Good for them. I know cannabis stocks have had a tough year so far.
