Why Uber’s stock market debut was a predictable flop
It takes more than massive growth and no profit to impress Wall Street realists, as the taxi-hailing app has learned in painful fashion
If you’d read through the prospectus published by the taxi hailing app Uber in advance of its stock market listing earlier this month, you’d have found 25 references to profitability. All of which refer to the company’s struggle to generate profits at all, now or even in the future. It’s probably no surprise, then, that Uber’s much-hyped stock market debut has absolutely flopped.
Its shares were priced at $45 each, giving...
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