Or so says Jeff Marks, senior portfolio analyst for Jim Cramer's Action Alerts PLUS. He weighed in on how the conference call after Uber's earnings Thursday night proved that the companies can work together when it comes to maintaining pricing.
"I think what it's more is what [Uber was] talking about is some of the pricing environment improving down the road. And I think what that more is, is less price gouging between Uber and Lyft just trying to beat on price, beat each other on price and kind of working together, uh, to, to get their margins up and get better pricing opportunities there," Marks said.
He also added, "And that's really, that's what a duopoly is all about. A duopoly being Uber and Lyft because they kind of need to work in tandem to make sure that they can maintain the appropriate amount of price levels to improve margins and keep them at a decent level to kind of weather this storm of, of operating losses right now. So I don't think it was less Uber versus Lyft. I think it was more them kind of working together," said Marks.