Uber Stock Higher After Top California Court Upholds Gig-Work Proposition

The California Supreme Court on Thursday upheld a ballot measure that allows app-based companies like Uber (UBER) and Lyft (LYFT) to classify drivers as independent contractors. The court ruled that the state's 2020 Proposition 22 was constitutional. The ballot measure allows companies such as Uber, Lyft and DoorDash (DASH) to classify their employees as independent contractors. A group of ride-share drivers and labor unions challenged the constitutionality of Proposition 22 in 2021. The legal fight culminated in Thursday's state Supreme Court ruling. On the stock market today, Uber stock edged...