Excerpt from the Financial Times quoting DataTrek’s Nick Colas:
… ” Lyft cast a shadow over Uber’s offering with a $1bn first-quarter loss and a warning that revenue growth would slow this year. Uber’s revenue has stalled in recent quarters as it has ramped up spending to see off competitors in ride-hailing and food delivery.
“It really casts into doubt how many investors want to own these assets,” said Nicholas Colas, co-founder of DataTrek. “You’ve just had two long roadshows, intensive Wall Street marketing, and promises of lower losses from two industry leaders. And you can’t hold issue price”…
Read the full article here in the Financial Times!