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Bloomberg
With Uber Technologies Inc.'s shares plunging nearly 20% below its IPO price on Monday, the stock might be fast approaching a "white knuckle" territory, according to one Wall Street analyst.

After closing down 7.6% on Friday in its trading debut, Uber's stock dropped as much as 13% on Monday in New York, before closing down 11% at $37.10. The initial public offering was priced at $45.

"From a stock perspective, if Uber breaks $35, that is where it starts to get even more white knuckles," Wedbush analyst Daniel Ives said in a phone interview. "Right now the bears are winning, and there is nothing to stop these stocks from moving down, especially in a risk-off environment," the analyst added, noting the weakness in ride-sharing peer Lyft Inc., which is also down as much as 7.3%.

by gk (gk (gk quattro due due sette @gmail.com)) on Tue May 14th, 2019 at 11:49:50 AM EST
[ Parent ]
Loss-leaders of the America REBOUND! off the lows. any. day. now.

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Taft-Hartley will rise again

Diversity is the key to economic and political evolution.

by Cat on Tue May 14th, 2019 at 10:07:57 PM EST
[ Parent ]
Damn. I Always thought I'd have a go at shorting Uber as soon as they went public. Missed my opportunity.


It is rightly acknowledged that people of faith have no monopoly of virtue - Queen Elizabeth II
by eurogreen on Wed May 22nd, 2019 at 03:48:44 PM EST
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Same, really. Though I think puts are the more reasonable thing to do? Also wish I'd have taken the time to figure out how this gambling thing works before the Tesla meltdown started.
And then invest the gains in the most ethical company. Buying pentagon suppliers and then raising prices like it was insulin.
by generic on Wed May 22nd, 2019 at 04:29:40 PM EST
[ Parent ]

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