Although Uber had a terrible time after its IPO, two things have happened over the past couple of months. (1) It seems to have completed a pretty good basing pattern (2) It has done so recently on much, much larger volume than before. I can’t remember seeing such a large increase in trading on a specific stock in recent memory.
Take care, though. These unicorn stocks can break out and then flop. Take Peloton, for instance. It had a beautiful base, went flying, and then – – partly due to the blowback from their silly ad – – has lost all those post-breakout gains.