Independent contractors as drivers who are disenchanted because they can't make money, why? because there is a saturation point of drivers on the road which has been surpassed long ago.
Govt. regulations.
No clear path on how to MAKE money because if they did have a clear path, they would have implemented it.
Now, some saying it should change it's model and become a car company!?, maybe?...
or merge with Sirius, maybe?...
uh um... Autonomous, maybe!.
Short when the opportunity presents itself.
Target: $28
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Not investing advice.
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You can try and blame the acceleration to the downside (-11%) on the broader markets reaction to the trade wars. I say hogwash! Apple is in the bullseye of the tarrifs and it ended today down 5%.
I was watching a program today, in which the host was about to brake to a commercial, just before they went to commercial she promo's the upcoming segment with this.... "We'll be back to discuss the decline in Uber, and what impact it's having on the broader market". I had to pause in disbelief, like really? Uber's been on the exchange all of 2 days, you honestly think it has ANY impact on the broader market?.... Believe me when I tell you this, if Uber's decline influenced this market in any way today, then this market is much, much graver danger.
It has now fallen below the consolidation channel. Confidence within the bulls is thin and getting thinner. I will be updating this chart to a larger timeframe soon.
Trade active
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Well you can't say you were not warned. Update:
Trade active
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1st target $34... Reached 2nd target $28...
Trade closed: target reached
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Earnings Results: 1.2 BBBBBILLION, IN LOSSES THIS QUARTER!!!! IPO share lockup is expiring tomorrow, Don't say you were not warned.
This company has no path, plan or focus. Spaghetti on the to see what sticks is not a strategy. Biggest IPO bust in history barreling through with absolutely no direction. Can you guess where this ends?
took uber for the first last night. just never needed it in the past. so check it out.
i first called yellow cab (OG) style! est cost $25
they said 30 min that turned into 1 hour. no show? kinda late at night.
so i thought lets break the ice and go with uber.
set the whole app up. then pinged out to the ethos and BAM!
driver 3 min out. cost $9. watched the driver approach on the GPS map.
he rolled up in a brand new lincoln MDX. sweet ride. does not get any better.
uber has first mover advantage.
thats huge!
setting aside all the BS and general growth obstacles ahead.
this company has nowhere to go but up!
cheers
streetgainer
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@traderjoeschmo, "cost $9. watched the driver approach on the GPS map. he rolled up in a brand new lincoln MDX"....
This response just added the case margin compression to the y/y losses. That driver is more than likely financing that nice brand new MDX, yet earns 64% less, for the privilege of using an "GPS map" to get a fare in an already saturated market. Your problem is that you're looking at it from the perspective of the rider who is paying 64% less, and riding in a new car. Wonderful!, however someone is struggling to pay for that car note, who is making 64% less and that someone happens to be the the very person Uber rely's on to keep the company afloat.
-Independent contractors as drivers who are disenchanted because they can't make money
The valuation doesn't match. Uber will be FORCED to find other ways of making money or the losses will continue, and they will be staggering.
streetgainer
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@traderjoeschmo, Sorry for all the grammatical errors, was doing 3 things at once, while typing. Lol.
since when does a tech company have to be actually profitable to gain market cap?
ie: amazon and a crap ton of other tech company's
its all about sentiment.
(yes fundamentals count)
but in today's market and the access to retail trading is what will drive the price.
lol, hahaha, check this CNBC headline out =
"Uber’s IPO caps an era of mediocrity and small thinking in Silicon Valley"
CNBC gives uber a thumbs down!
we all know how great CNBC is at picking the right direction of price!!
a definite "buy" indicator for me. :))
streetgainer
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@traderjoeschmo, Do your research. Compare Ubers losses to amazons pre IPO, they cannot be mentioned in the same sentence, Ubers losses are down right pathetic. Yes it took amazon 14 years to turn a profit, but they weren't burning cash hand over fist. In fact Bezos was smart to finance mostly through the positive cash flow in order to build out an infrastructure that is almost a 100% barrier to entry for any other competitor at that scale, not to mention AWS. You're talking petty cnbc slogans, I'm talking real research.
Good luck, you'll need if you bought. It won't take long either.
ok. i get it. your all about fundamentals. and for me there is no technical analysis to go by. what i see is a brand that is way ahead of everyone else by miles! their technology is "state of the art" and will expand over time. they are located in the sweet spot for all things tech! monster investor and innovation pools right next door. now that they are public they will face a ton of scrutiny (ie: YOU). this will force them to be a better in all things fundamental to a growing company. they will adapt, evolve and improve in this area.
lol... this insight comes from a guy that is 70% crypto! i like your $28 number. maybe a little low? 30% off high is not out of the ordinary for me! just a little profit taking by the early early investors. hell, google dropped 20% off its early highs before gaining its 175% to date. uber is no google, and maybe uber is the netscape of the ride share space, (as you are possibly suggesting), only time will tell.
cheers
streetgainer
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The market made a 450 point comeback to close higher. This though?....
Don't blame it on the bad day the market was having and I'm sure, Goldman, Morgan and BOA probably had to step in during the final hours of trading to prop this thing up above 41.00
i first called yellow cab (OG) style! est cost $25
they said 30 min that turned into 1 hour. no show? kinda late at night.
so i thought lets break the ice and go with uber.
set the whole app up. then pinged out to the ethos and BAM!
driver 3 min out. cost $9. watched the driver approach on the GPS map.
he rolled up in a brand new lincoln MDX. sweet ride. does not get any better.
uber has first mover advantage.
thats huge!
setting aside all the BS and general growth obstacles ahead.
this company has nowhere to go but up!
cheers