The Wizard of Moz
Punishing This Air
- Joined
- Jan 19, 2015
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price per share really doesn’t matter. It IPO’d at an 82 billion dollar valuation in a historical IPO flop because it had difficulty even getting all of its shares out on open to the point that it was well below the IPO price by the time anyone was closing on it. Meaning investors didn’t really give a shit what the underwriters came up with for the IPO price, they themselves wanted no part of 45/shareJust have an insanely hard time believing Uber is a complete tank after IPO.
IPO’d up 22% from what it is now, and the immediate dip gives me a want to get in because of the fact that it owns 70% of the ride share market and has a quality brand name built.
I see more value than the $37 price point it’s currently at.
The IPO price shouldn’t matter as much as the closing price of the first day (or whatever, a week’s average if you want to yell at me about volatility). The market didn’t value Uber at 82 billion, the underwriters did and they missed the mark
And I don’t even hate Uber. They have reasons to be optimistic and there was a period of time I thought there was value to be had (so I sold puts on it that expired out of the money, only play I’ve made on Uber has been a long play). But it’s got some serious hurdles to overcome and I could see it going sideways until it shows it can overcome some of those hurdles and stop spending down their cash every quarter