Uber opens at $42 per share • Hacker News Board

Re: Uber opens at $42 per share

#31

Post by gizmo385 » Fri, May 10, 2019, 5:32 PM UTC

aqme28 wrote: post #30

chollida1 wrote: post #3

Some notes from watching Uber open: - if it closes below $45(its IPO price) it will be the first time since 2008 that the happened for a major IPO - TD Ameritrade executed more orders in the first 10 minutes of trading than they did for the first 2.5 hours with Lyft. - Uber is 9% of all trading at TD Ameritrade, retail loves this stock, - market is down today, which isn't helping Uber but its probably not much of a f…

> if it closes below $45 it will be the first time since 2008 that the happened for a major IPO Sorry, first time that what happened?

This reads almost like a sports statistic with how arbitrary it feels.

Re: Uber opens at $42 per share

#32

Post by malvosenior » Fri, May 10, 2019, 5:33 PM UTC

duxup wrote: post #21

malvosenior wrote: post #13

Earlier quoted context omitted.

Just like Amazon at its IPO.

Maybe I don't remember it well enough but Amazon's business model seemed a lot more ... tangible than Uber's don't you think?

As a heavy early Amazon and Uber user, I'd say not really. Both are pretty revolutionary and I certainly have been paying Uber a lot more than I was paying Amazon when they just sold books.

Re: Uber opens at $42 per share

#33

Post by mindcrime » Fri, May 10, 2019, 5:33 PM UTC

duxup wrote: post #18

dugluak wrote: post #12

Earlier quoted context omitted.

Sometimes I see no difference between these Market Gurus and Horoscope readers. Just say some bullshit authoritatively and some people will believe.

I prefer the more educated folks who provide insights like "Stocks were down today due to a sell-off"

Or "The Dow is down 312.9 points today due to geo-political tension in the Middle East", etc.

Re: Uber opens at $42 per share

#34

Post by AimForTheBushes » Fri, May 10, 2019, 5:34 PM UTC

aqme28 wrote: post #30

chollida1 wrote: post #3

Some notes from watching Uber open: - if it closes below $45(its IPO price) it will be the first time since 2008 that the happened for a major IPO - TD Ameritrade executed more orders in the first 10 minutes of trading than they did for the first 2.5 hours with Lyft. - Uber is 9% of all trading at TD Ameritrade, retail loves this stock, - market is down today, which isn't helping Uber but its probably not much of a f…

> if it closes below $45 it will be the first time since 2008 that the happened for a major IPO Sorry, first time that what happened?

That the underlying stock price closes below the IPO price.

Re: Uber opens at $42 per share

#35

Post by chollida1 » Fri, May 10, 2019, 5:34 PM UTC

aqme28 wrote: post #30

chollida1 wrote: post #3

Some notes from watching Uber open: - if it closes below $45(its IPO price) it will be the first time since 2008 that the happened for a major IPO - TD Ameritrade executed more orders in the first 10 minutes of trading than they did for the first 2.5 hours with Lyft. - Uber is 9% of all trading at TD Ameritrade, retail loves this stock, - market is down today, which isn't helping Uber but its probably not much of a f…

> if it closes below $45 it will be the first time since 2008 that the happened for a major IPO Sorry, first time that what happened?

edited the comment,

$45 was the IPO price, meant it will be the fist time since 2008 that a major IPO closed below its IPO price on the first day of trading.

Re: Uber opens at $42 per share

#36

Post by bfrog » Fri, May 10, 2019, 5:35 PM UTC

jdavis703 wrote: post #4

This is unfortunate for many of the rank and file Uber employees but it’s good news for the stock market in general. It’s showing we’re not in a tech bubble and companies are still going to be valued based on how strong their business case is.

With the burn rate uber has, it'll be bankrupt in < 2 years. There are no other suckers to buy in after the public.

Re: Uber opens at $42 per share

#37

Post by spelunker » Fri, May 10, 2019, 5:35 PM UTC

aqme28 wrote: post #30

chollida1 wrote: post #3

Some notes from watching Uber open: - if it closes below $45(its IPO price) it will be the first time since 2008 that the happened for a major IPO - TD Ameritrade executed more orders in the first 10 minutes of trading than they did for the first 2.5 hours with Lyft. - Uber is 9% of all trading at TD Ameritrade, retail loves this stock, - market is down today, which isn't helping Uber but its probably not much of a f…

> if it closes below $45 it will be the first time since 2008 that the happened for a major IPO Sorry, first time that what happened?

The first time a listing closes below it's IPO on the first day I believe.

Re: Uber opens at $42 per share

#38

Post by atemerev » Fri, May 10, 2019, 5:35 PM UTC

ufmace wrote: post #11

Did I miss something? I thought Uber was still a long way from being profitable and had no plausible plan for how to become profitable.

These days, being profitable is considered harmful. More profits = more taxes. Getting virtual “profits” into stock appreciation and structuring revenues to pay nearly zero tax is the name of the game today, and only big corporations can afford it. It is small and medium businesses that pick the bill.

Re: Uber opens at $42 per share

#39

Post by fullshark » Fri, May 10, 2019, 5:35 PM UTC

dymk wrote: post #26

duxup wrote: post #21

Earlier quoted context omitted.

Maybe I don't remember it well enough but Amazon's business model seemed a lot more ... tangible than Uber's don't you think?

In the 1997, Amazon's proposition of "Online retailer" was also pretty far fetched. It wasn't obvious that their model was going to make them one of the largest retailers in the world.

Online retailers wasn't far-fetched at all. It wasn't obvious they were going to become the everything store and dominate the market, but it wasn't like people were perplexed by a business plan of selling books online and sending them to consumers.

If people are perplexed by uber today it's because the unit economics look horrible, and it doesn't seem like they will improve without a major technological advance.

Edit: TBF, I was curious so I checked out AMZN's first year of trading: https://finance.yahoo.com/quote/AMZN/history?period1=8528832...

They dropped 20% on day one. I don't think that reflects investor skepticism re: shopping online, but skepticism re: the myriad risks they faced as one of many money losing online retailers.

Re: Uber opens at $42 per share

#40

Post by mrnobody_67 » Fri, May 10, 2019, 5:36 PM UTC

malvosenior wrote: post #13

ufmace wrote: post #11

Did I miss something? I thought Uber was still a long way from being profitable and had no plausible plan for how to become profitable.

Just like Amazon at its IPO.

Amazon was cashflow positive from the early days and raised less than $100m in its entire existence.