Uber wins important legal case in London
Shares of the ride sharing app are up over 6 percent.
Uber (NYSE: UBER) won its legal battle in London to retain its license after a judge ruled in its favor today. The company rolled out a new driver identity verification system in April through a mix of facial recognition and human verifiers to allay concerns from the city's transportation authority. London is by far the largest market for Uber in Europe, but the company is seeing new competitors like India's Ola and Estonian Bolt making a mark. Uber's shares were up 5.89% in pre-trading hours to $ 36.49. Uber conveniently trades above its 50-day, 100-day, and 200-day moving averages.