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Uber and Lyft close at record lows as investors lose faith in ride-sharing companies

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SmittenKitten
2004 Rider
 Posted 8 months, 3 weeks ago

These Wall street investors...they should just be talking to the drivers. They could have told them this a long time before wasting their money.

Both companies have had a particularly rough ride on the public markets since their respective IPOs earlier this year, as investors continue to question whether Uber or Lyft can achieve profitability in the future. Uber and Lyft were trading on Tuesday more than 30% below their IPO prices of $45 and $72 a share, respectively.

Uber reported a net loss of $5.24 billion for its second quarter of 2019, blaming stock-based compensation costs. By comparison, Lyft lost $644.2 million in the second quarter, representing a significant jump from the $178.9 million it lost a year earlier.


https://www.cnbc.com/2019/09/03/uber-and-lyft-stock-close-at-record-lows-as-investor-skepticism-grows.html


Comments

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    RadarRider
    66 Driver
     8 months ago  (edited 8 months ago)

    Hard to believe there is a loss when they make so much off each driver.

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    bBerman81
    268 Rider
     8 months ago

    They don't care. They already made their billions of dollars and cashed out.  The current investors are the stupid public or those with very long-term outlook.


    Show Hide  1 Reply
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      Uberserge
      1279 Rider Driver
       8 months ago

      In U/L case, long term could be a lifetime. Public investor bagholders

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    bobshmob
    53 Driver Driver
     8 months ago

    Yep, old news. It is insane how much money these companies are losing daily.

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    Uberserge
    1279 Rider Driver
     8 months ago

    They should have talked to the drivers, no need to have an MBA To figure out U/L are turds