Uber To Start Trading Today, Flop or Not?
Uber's IPO is set to start trading today at $45.00, with a valuation of $82.4 billion. These numbers are way down from the recent estimates. Consensus seems that they are underpricing it to avoid the same flop that Lyft's IPO ended up being. Others believe it is still overpriced because they are yet to turn a profit. Thoughts?
I have a hunch you're right about the underprice as a signaling method to avoid a flop. This said, I'm not too familiar with Uber's financials/valuation, so bumping to hear others takes.
nope...its a flop
There's a long runway to profitability for rideshare. Added market turmoil should create opportunity though, imo.
Was not expecting it to flop today. Long term yes, but not down 7 percent on its first day trading. I'm guessing people wanted to be more cautious after seeing how Lyft has performed.
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