Down like 10% since open. I'd say it'll stabilize somewhere near 20% down maybe
That's the sound of the Dotcom 2.0 bubble popping.
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.”
Shit companies are crashing. What’s surprising about that?
How are Uber and Lyft shit companies?
What are their value generating assets? Mounds of data garbage that will totally be useful once we have self driving cars?
Lyft didn't lift Uber.
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!
Uber should seriously consider acquiring Lyft. Good for both side.
Yeah except antitrust stuff
The state should own them both, comrade
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