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ComfortDelGro stock rises from the ashes of Uber's demise

Hot Stock

ComfortDelGro stock rises from the ashes of Uber's demise

Bloomberg Published on Wed, Aug 08, 2018 / 6:00 PM GMT+8

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SINGAPORE (Aug 8): In a little over seven months, Singapore’s largest taxi company has reversed course from the city-state’s second-worst performing stock to its best, as competition for passengers eased following Uber Technologies Inc.’s exit from Southeast Asia.

ComfortDelGro has rallied 20% this year, against the benchmark Straits Times Index’s 2.2% decline. The company’s shares rose 4% on Wednesday to close at $2.37 in Singapore.

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