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- Uber Technologies (NYSE:UBER) is ending its Uber Eats operations in Brazil, according to multiple media reports.
- Both Reuters and Brazil Journal reported that the tech logistics company will end its food delivery service in South America's largest country, as of March 7.
- Going forward, Uber (UBER) will focus on delivering services for stores in Brazil, including Cornershop, a supermarket delivery service it bought in 2019; Uber Flash, which delivers packages; and Uber Direct, a B2B logistics service.
- Seeking Alpha has reached out to Uber (UBER) with a request for comment on this story.
- Uber (UBER) shares were slightly higher on Thursday, gaining less than 1% to trade at $43.34.
- Last month, Uber (UBER) was listed among the top tech stocks for 2022 at Evercore, with analyst Mark Mahaney calling it "the best recovery/reopening play in our sector," as the global economy continues to reopen amid the fallout from the COVID-19 pandemic.