Uber stock is crashing alongside Lyft

New ddxjDaw
May 13 18 Comments

What is going on?

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TOP 18 Comments
  • Cisco wmcx87
    Team Uber:

    I’m looking forward to being in front of you at the All Hands tomorrow, but I wanted to send you a quick note in the meantime.

    First off, I want to thank you all for your passion for and commitment to Uber. We simply would not be here without you.

    Like all periods of transition, there are ups and downs. Obviously our stock did not trade as well as we had hoped post-IPO. Today is another tough day in the market, and I expect the same as it relates to our stock.

    But it is essential for us to keep our eye on the long-term value of Uber for our customers, partners, drivers and investors.

    Every stock is valued based on the projected future cash flows/profits that the company is expected to generate over its lifetime. There are many versions of our future that are highly profitable and valuable, and there are of course some that are less so. During times of negative market sentiment, the pessimistic voices get louder, and the optimistic voices pull back.

    We will make certain that we communicate our incredible value as a company that is changing the way the world moves, but also the value that we are building for our owners. But there is one simple way for us to succeed – focus on the work at hand and execute against our plans effectively.

    Remember that the Facebook and Amazon post-IPO trading was incredibly difficult for those companies. And look at how they have delivered since.

    Our road will be the same. Sentiment does not change overnight, and I expect some tough public market times over the coming months. But we have all the capital we need to demonstrate a path to improved margins and profits. As the market sees evidence, sentiment will improve, and as sentiment improves, the stock will follow. We will not be able to control timing, but we will be able to control the outcome.

    We will be judged long-term on our performance, and I welcome that. It’s all in our hands.

    I look forward to being there at the All Hands to answer Qs and tell you more.”
    May 13 4
    • Amazon ehuuS
      Lmao I could smell the ceo trying to keep morale in order through my screen. A burning dumpster is a burning dumpster
      May 13
    • Microsoft hhytdss
      lol is that official
      May 13
    • Amazon ehuuS
      Yup from the ceo
      May 13
    • Citrix Systems / Eng peda
      How jobless are you Cisco
      May 13
  • Booking.com myselfandi
    Shit companies are crashing. What’s surprising about that?
    May 13 4
    • New ddxjDaw
      OP
      How are Uber and Lyft shit companies?
      May 13
    • Travelport / Eng buttnpushr
      What are their value generating assets? Mounds of data garbage that will totally be useful once we have self driving cars?
      May 13
    • Booking.com myselfandi
      Losing billions with no idea of when you’ll become profitable is not something good companies typically do. Their hopes are based on driverless vehicles which no one really knows when they’ll be ready. Not to mention that the technology is probably going to be built by someone else (Google, maybe).
      May 13
    • Microsoft hhytdss
      anyone can make a business selling dollars for 75 cents each
      May 13
  • That's the sound of the Dotcom 2.0 bubble popping.
    May 13 0
  • Adobe mercury10
    They are burning money and VCs are done footing the bill. At some point prices will have to rise, then what is going to happen with overall revenue and ridership? Things are just uncertain
    May 13 0
  • Verizon G.Jetson
    Reality is settling in. It took them 10 years to burn through 7.9B in VC, and only days to wipe out $14B in investment value. Only $62B to go!
    May 13 0
  • Thumbtack lmEM47
    Uber should seriously consider acquiring Lyft. Good for both side.
    May 13 2
    • Google LyLs67
      Yeah except antitrust stuff
      May 13
    • Travelport / Eng buttnpushr
      The state should own them both, comrade
      May 13
  • Oracle / Eng aham
    Lyft didn't lift Uber.
    May 13 0
  • Travelport / Eng buttnpushr
    Down like 10% since open. I'd say it'll stabilize somewhere near 20% down maybe
    May 13 0