Published on 31 May 2024 on Insider Monkey via Yahoo Finance

Uber Technologies (UBER) Reported a Strong First Quarter

RiverPark Advisors, an investment advisory firm and sponsor of the RiverPark family of mutual funds, released its “RiverPark Large Growth Fund” first quarter 2024 investor letter. A copy of the letter can be downloaded here. During the first quarter, the markets performed strongly. The Russell 1000 Growth Index (RLG) and the S&P 500 index returned 11.41% and 10.56%, respectively during the quarter and RPX returned 9.20%. The monthly inflation readings in the first quarter exceeded market expectations. A couple of megatrends that drove the markets higher were GLP-1 weight loss drugs and everything related to artificial intelligence (AI). In addition, please check the fund’s top five holdings to know its best picks in 2024.

RiverPark Large Growth Fund highlighted stocks like Uber Technologies, Inc. (NYSE:UBER), in the first quarter 2024 investor letter. Uber Technologies, Inc. (NYSE:UBER) develops and operates proprietary technology applications. The one-month return Uber Technologies, Inc. (NYSE:UBER) was -6.49%, and its shares gained 66.63% of their value over the last 52 weeks. On May 30, 2024, Uber Technologies, Inc. (NYSE:UBER) stock closed at $64.12 per share with a market capitalization of $133.98 billion.