Uber began trading in 2019 via a much-hyped initial public offering, first scoring a $100 billion valuation in 2021. But Wall Street quickly turned on Uber and other cash-bleeding businesses as macroeconomic conditions shifted, and Uber's cash losses mounted to a whopping $9 billion from 2019 to 2021. Uber's market capitalization dipped as low as about $40 billion in 2022, but sat at a robust $140 billion Wednesday as the company finally got in the black, finally silencing skeptics about Uber's ability to ever turn a profit. Shares of Uber hit an all-time high of nearly $71 on Tuesday.