Trial DataTrek Morning Briefings for Free

Thousands of investors and financial journalists rely on Nick and Jessica’s newsletter every day for their thought-provoking work on markets, data and disruption. See why for yourself by starting a 2-week FREE trial below.


Business Insider: “Uber is tanking after logging the biggest first-day dollar loss in US IPO history”

By admin_45 in IN THE NEWS Business Insider: “Uber is tanking after logging the biggest first-day dollar loss in US IPO history”

Excerpt from Business Insider quoting DataTrek's Nick Colas:

.... "Uber's IPO comes at a turbulent moment in the financial markets, as an escalation in the US-China trade war has fueled a fresh wave volatility that rocked markets last week and weighed on sentiment Monday morning. The uncertainty around US-China trade relations took a toll on Friday.

"While it might be easy to call out 'market conditions' for these failings, the unvarnished truth is that these declines represent a fundamental disconnect between public and private valuations,"  Nicholas Colas, co-founder of DataTrek Research, wrote in a note to clients on Monday about Uber and Lyft's poor performances. 

While the market doesn't necessarily "care" about newly public companies turning a profit, Colas said, it does want to see operating cash flow, of which Uber and Lyft are "dramatically short"....

You can read the full article here on Business Insider!

Trial DataTrek Morning Briefings for Free

Thousands of investors and financial journalists rely on Nick and Jessica’s newsletter every day for their thought-provoking work on markets, data and disruption. See why for yourself by starting a 2-week FREE trial below.