Posted on 05/10/2019 9:08:26 AM PDT by C19fan
Uber (UBER) officially began trading Friday on the New York Stock Exchange, but stumbled out of the gate as its stock dropped below its $45 initial public offering price.
In Uber’s first test of whether it can transition from Silicon Valley unicorn to a publicly traded company while winning over a skeptical, volatile market, the stock — which priced at $45 on Thursday — gradually drifted lower from the $46-$48 indicated range earlier in the morning.
In its first trade, Uber opened at $42 per share on the New York Stock Exchange (NYSE), effectively crashing out of the preferred range that it listed for its IPO of between $44 to $50.
In an interview with Yahoo Finance, NYSE COO John Tuttle said the first trade would be determined by a list of factors.
(Excerpt) Read more at finance.yahoo.com ...
Symbol
UBER
LastQuoteHelp
43.22
Change
-1.78 (-3.96%)
Bid
43.20
Ask
43.25
High
45.00
Low
41.06
Volume
85,404,159
Time (ET)
12:12:31 PM
Uber is nothing but an app that allows people to cash in on the depreciation of their vehicles.
Once people realize this, they will stop being drivers... the only thing that keeps it afloat is that there is a new supply of idiots turning 18 each year that need some extra cash.
That is insane....................
Spokeshave who took the money and ran.
I am wondering why scores of local competitors in large cities everywhere haven’t already popped up?
You wonder why Uber drivers are pisssed.
...
Why are they pissed when they can work somewhere else?
Yeah I know...but when you are passed shelf life (77) it works....got rid of 3 credit cards...2 more to go.
Where are the hard assets in this company?
I’m waiting fou UberAir.
well....
a company with a business model that is both
easily reproduce-able, with almost zero barriers to competition
and which business model relies on a legal framework that was not designed for it
1. regulation of operations, licensure and consumer protection issues
2. safety of vehicles and drivers
3. public and consumer liability insurance coverage
4. workforce screening/hiring/risks
5. workforce income, wage laws
6. workforce injuries insurance coverage
7. workforce training
8. workforce supervision
9. vehicular safety inspections
10 vehicular maintenance standards and enforcement thereof
prognosis....higher expenses and more restrictions (and the drivers are on strike already)
a neat idea but...not exactly the most promising business model on the market.
Spokeshave who took the money and ran.
Spokeshave smart! HombreSecreto thinking about shorting...but when is the best time?
Just got in at $42.25 and made $1K.
Probably be at a loss tomorrow, but my wife was on a trip and loved the service / product so this is strategic.
Just think about that when someone tries to convince you that the company is worth $90 billion.
If it falls farther it will change its symbol to UBOAT.
Given the fees they charge their drivers you would think they are making money hand over fist.
Uber is relying on having a monopoly because of network effects and surviving long enough to replace all the humans with AI drivers.
“Uber based on the IPO price was valued at $82 billion.
That is insane....................”
And the companies prospectus made no beans about it. “We may never be profitable”
AI is interesting idea but its both not ready for prime time...and it introduces its own set of risks
will be interesting to watch this
I’d also point out that an industry where you’re competing with unlicensed Mexicans driving uninsured vehicles is not a good one to operate in.
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