UBER - HyreCar: Stock Rallies To All-Time Highs After New Strategic Partnership Vastly Increases Growth Prospects - Buy On Setbacks
- Discussing new strategic partnership designed to address the ongoing demand and supply imbalance on the company's platform.
- While the new initiative will likely take some time to ramp up, growth prospects have increased meaningfully.
- Management seized the opportunity and raised some much-needed cash after the stock's epic rally in recent weeks.
- Shares have pulled back on the offering and weaker-than-expected preliminary fourth quarter results.
- Buy on setbacks. Should HyreCar live up to analyst expectations for 80%+ year-over-year growth and the company turning profitable over the course of 2021, further multiple expansion would be warranted.
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HyreCar: Stock Rallies To All-Time Highs After New Strategic Partnership Vastly Increases Growth Prospects - Buy On Setbacks