On August 12, Uber fell 3.34% in regular trading, trading at $75.945/share, with turnover of $414 million. A dual wave of negative catalysts weighed on investor sentiment.

On the news front, Uber fully liquidated its stake in long-time partner Serve Robotics during the second quarter, as the two companies reportedly developed serious disagreements over delivery robot deployment strategies. Concurrently, an Uber executive resigned from Serve's board during the same quarter. The move raises market concerns about Uber's progress in advancing autonomous delivery capabilities on its platform, despite the company's broader commitment to invest over $10 billion in autonomous vehicle initiatives over the coming years.

Additionally, Uber Freight disclosed it is investigating a cybersecurity incident involving unauthorized access to part of its systems. Hacking group Helix claimed on August 6 to have obtained nearly 1 million Uber Freight files. While the company stated the incident was contained and business operations remain unaffected, the data breach risk further pressured market sentiment.

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