Hedge Funds Dump Uber and Scoop Up Tesla

A tale of two tech-enabled stocks

Luke MacGregor/Bloomberg

Luke MacGregor/Bloomberg

The coronavirus pandemic may have upended the fates of two tech-enabled stocks — Uber Technologies, which is essentially a taxi service, and Tesla, an automaker.

For years, hedge funds have loved one and hated the other — but the tide turned during the first quarter.

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