The IPO for Uber (UBER) has fallen out the bed. The company priced its IPO at $45, opened at $42, and closed at $41.57. UBER’s one-day total loss in value from the IPO price was apparently the largest in history. For a moment, UBER looked like it could stabilize around its poor first day. Unfortunately, the next trading day a major market sell-off helped take UBER...
I am going to assume that UBER is going to exhibit similar behavior as LYFT after it's failed IPO. Therefore I am looking for UBER to make a second deeper dip near the end of this month which will probably take it down to 30. Here I would be willing to take up a first position.
We will not be tempted to bottom feed on this, given the capitulation in LYFT post IPO. It does bring to the fore that a company losing money is not that appealing to investors after all.
On first day of trading Uber broke an important support level but managed to bounce off the trend line.
Independent contractors as drivers who are disenchanted because they can't make money, why? because there is a saturation point of drivers on the road which has been surpassed long ago. Govt. regulations. No clear path on how to MAKE money because if they did have a clear path, they would have implemented it. Now, some saying it should change it's model and...
TAXI IPO'S WILL UBER GO LIKE LYFT? Both never had profit, only loss.