Why Uber Stock Was Pulling Back Today

Why Uber Stock Was Pulling Back Today·Motley Fool

Shares of Uber Technologies (NYSE: UBER) were stuck in a rut today as the transportation specialist seemed to take a hit from a legal dispute in the European Union (EU) as the company threatened to pull its drivers out of that region, pending a new legal requirement. The EU is currently negotiating a proposal that would designate gig workers, like Uber drivers, as de facto employees. The news is familiar to Uber and its shareholders: The company has been fighting with jurisdictions since its early days over the classification of its drivers, whom it considers contractors.