Uber’s stock soared more than 6% after its CEO purchased the company’s securities

Uber CEO Dara Khosrowshahi purchased 200 thousand shares of the cab ordering service. This provoked an increase in quotations by more than 6%.

According to RBC, several deals were made, the average value of which was $44.9 per share. The company’s shares gained more than 6.4% as of 5:55 p.m. Moscow time. The growth of quotations began at the premarket when it became known about the forthcoming deal.

The total stake in Uber, which Khosrowshahi now owns, has more than 1.1 million securities. The number of recent transactions amounted to about $8.98 million.

From the beginning of 2021 to the middle of November, the share price decreased by more than 15.5%. The company’s net loss for the first three quarters increased by 123% when compared to the same period last year.