I’m watching CNBC….
There are knuckleheads trying to say good things about a company that has lost BILLIONS….
The sellers where talking about the company as a sell last week….
$45 a share?
Nope….
$35.64 as I post this…Probably on its way down to the $20 range….
All eyes on Uber’s Day 2
Today is a big test for Uber: Can it overcome tumbling 7.6 percentfrom its I.P.O. price on Friday to do better during its second day on the public stock markets?
Uber suffered the worst first-day dollar loss of any U.S. I.P.O. ever.That’s a terrible start for the biggest market debut in years. What was supposed to be a celebration turned into an exercise in expectations management: “I think we came public on a tough day, and a tough week,” Dara Khosrowshahi, the company’s C.E.O., told Mike Isaac of the NYT.
And that’s a bad omen. “If a stock falls below its I.P.O. price on the first day or even in the weeks that follow, the offering is considered a flop — a red flag that investors have concerns about a company’s outlook,” Stephen Grocer of DealBook writes. “It can also put a chill on the I.P.O. market, making investors wary of buying into other big deals to come.”….
image…financialexpress.com
Uber’s stock is now down 17.2% from its $45 per share IPO price, representing nearly $13 billion in total lost value….
More…