It’s no longer news that Uber’s debut on their IPO didn’t go as planned as the hail riding services opened at $42 as opposed to the anticipated $45 IPO price and is currently at $37.17 valuing the company at $12 billion less than it’s initial IPO Price.
Many have suggested that it probably didn’t do so well in the midst of a trade war ongoing between the U.S and China and others for obvious reasons.
Uber is not the only one suffering the effects of the supposed trade wars, Hail riding company Lyft is also down 5.3% at $48.35. Lyft has posted a $1.1 billion quaterly loss last week and is still expecting more.
Uber also suspects it may never be profitable as it warns in a regulatory filing.
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