Hedge Funds Cheer Uber’s Surge

A large group of well-known hedge funds made big second-quarter bets on the ride-hailing company. Will they be rewarded?

(Tiffany Hagler-Geard/Bloomberg)

(Tiffany Hagler-Geard/Bloomberg)

Uber Technologies’ stock surged on Tuesday after the ride-hailing company delivered very upbeat guidance.

The stock closed at $44.36, up 11.5 percent on the day.

This was good news for the slew of high-profile hedge funds that made big bets on the company in the second quarter.


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