Uber opens at $42 per share
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Uber opens at $42 per share
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Re: Uber opens at $42 per share
#2it's all a matter of perspective, I think an $80 billion market cap for a company that loses billions of dollars every year with no end in sight is not that disappointing at all for those who can sell today
Re: Uber opens at $42 per share
#3Some 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 factor
- Kudos to Citadel, stock opened without a hitch and they seemed to nail the opening price,
- Boo to the underwriters(Morgan Stanley), who seemed to misjudge the market's appetite, important to note that major buyers at IPO, Fidelity and such already had exposure to Uber pre IPO so maybe this staying private longer but selling shares to public fudns had an effect?
https://news.yahoo.com/uber-employees-may-not-partying-15171...
- interesting piece on how Uber has grown its market cap in the past few years at the expense of its share price and how that effects later employees.
- later investors like the Saudi Public Investment Fund can’t be happy with the opening.
- from Bloomberg without comment...."Overheard trader on the floor: “That’s what you get when you don’t make a profit. If you don’t make money, people don’t want to buy you.”
- Biggest IPO since Facebook, that's something to be proud of!!
Date:
- June 4 is expiration of 25-day quiet period for analysts at underwriting banks. Expect bullish initiations on this date
- Nov. 6 expiration of Uber's IPO lockup. Large selling pressure expected to be asserted on this day as is typical for most IPO's.
Personal thought. It may be tough for employee's to not see this pop to say $65-$70 but in the long run its almost certainly better to open flat than to pull a "lyft" and get a first day pop that you price your options at in your head and to then have to cut that price by 40% before you get a chance to sell.
EDIT for comment below.
Re: Uber opens at $42 per share
#4This 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.
Re: Uber opens at $42 per share
#5[deleted]
Re: Uber opens at $42 per share
#6Morgan Stanley going to have to do a lot to stabilize the price over the coming days...
On Uber's side, they sold at their $45 mark. However, seems this may have been a down round vs their last private funding round ($74.1BN pre-money vs $76BN last year).
Re: Uber opens at $42 per share
#7This 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.
Uber is valued a whole bunch above zero which is where that company will be when it runs out of money, which it will relatively soon at the rate it's going.
Re: Uber opens at $42 per share
#8disappointing? jesus, its been an hour. Relax your freaking noodles. What´s with everyone and instant gratification these days? The stock is still in range discovery...
I myself am bearish but sitting this one out because I have no idea what to make of it. One thing I know though, calling it disappointing 1 hour after open during a tightning range is beyond irresponsible. It´s flat out stupid and lacks any understanding of how markets work. The stock could literally pop bull 5 mins from now, or not. Either way I wish people would stop with this sensationalism.
Re: Uber opens at $42 per share
#9My primary disappointment with the Uber IPO is that I don't have a larger wad of money to cover a short position.
Re: Uber opens at $42 per share
#10Some 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…
For your point on TD Ameritrade, they're offering commission rebate first 5 days. Don't believe they offered that for Lyft. They're saying it's because they did not participate in Ubers IPO.