It was one of the year’s most anticipated IPOs.
Instead, it turned into one of the biggest flops. Out of the gate, shares of Uber (UBER) opened at $45 and sank to nearly $36, losing $6 billion in its first date.
However, this shouldn’t have come as a big surprise.
For example, Uber lost $891 million in the second quarter of 2018 following a loss of $4.5 billion in 2017. However, it does see revenue of $10 billion to $11 billion, up from $7.78 billion from 2017. That represents growth...
Already a member? Login below, or click here to register now for free.