That being said, I started buying this morning, SPYG.
Posted on 03/19/2020 3:33:41 PM PDT by nickcarraway
In a surprise breakout, Uber saw its share price soar by more than 38 percent today, dwarfing much of the market’s gains.
Shares of ride-hailing giant Uber Technologies (NYSE:UBER) skyrocketed today following a conference call with the aim to calm worried investors. The taxi-on-demand service has taken a major beating in the market-wide coronavirus selloff, with widespread quarantine measures being taken across the globe weighing on the company's bottom line.
During the conference call, Uber reassured investors, saying that it expects to have over $6 billion in cash on hand, with an additional $2 billion in easily accessible debt.
President Dara Khosrowshahi explained that even in a worst-case scenario wherein the coronavirus takes a turn for the worst, the company will have a minimum of $4 billion in reserves. This is thanks in large part to its food-delivery business.
"Our Eats Business has become an important resource right now, especially by restaurants hit by containment policies," remarked Khosrowshahi. "Even in Seattle it's still growing."
Uber's Struggles Going Forward
In a worst-case scenario for Uber, the company is anticipating that its total rides fall by 80 percent over the course of the year. This scenario would reduce its cash position from the $10 billion it outlined in today's call to a still-healthy $4 billion.
Khosrowshahi doesn't see things going that badly, however. In fact, Khosrowshahi believes that the world is already bouncing back from the outbreak, with many places already returning to normal.
(Excerpt) Read more at oilprice.com ...
Because a car that holds 3-4 people only seems like it didn’t have 50 or more in a day.
.....after if falls 80%
Liberal Ideas that FAILED during the coronavirus:
Car-sharing (Uber)
Uber Eats (who wants a stranger touching their food now?)
Hemp grocery store bags
Reusable cups
Reusable straws
Borderless countries
Transgender bathrooms as a priority
(feel free to add your own)
The drivers pay their own gas, so cheap fuel is no direct benefit to Uber, right?
If nobody is car sharing, gas could fall to zero and Uber would not benefit.
If there is a higher profit margin for drivers, there are more drivers.
I don’t think Uber was a liberal idea.
Uber is trading at 20.49. Wasn’t the IPO at 45 per share?
Anyway, in spite of recent gains, point being, if you bought Uber at the IPO price, you are still way under water.
Even before cv, uber eats drivers might nibble your food
Know one restaurant that had to come up with tamper resistant packaging
Show me a single Conservative who thinks sharing a car is a great idea.
Uber Eats and the delivery services are going to do well the next 3 weeks as all the restaurants are closed exept for takeout.
Many are saying to shelter in place meaning the only way to get food is delivery.
I read one of the pizza places is hiring 100,000 next people for deliveries.
It’s Dominos, but your number is 90,000 high.
https://www.cnbc.com/2020/03/19/dominos-expects-to-hire-10000-workers.html
Sorry, I got fat fingered and added an extra 0.
Man, that sounds like it must have hurt...
It started in San Fran. The odds are tilted.
They fired the CEO and founder because he wasn’t PC.
EPICALLY!!!
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