Ahead of Uber earnings, these could be the most important levels to watch

  • 📰 CNBC
  • ⏱ Reading Time:
  • 46 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 72%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Uber is gearing up for earnings after the bell today, its third release since going public. Investors should watch out for these levels after the report, says Miller Tabak's Matt Maley.

The stock -- a poster child in the shift in appetite for unprofitable IPOs -- has fallen 7% in just a week., chief market strategist at Miller Tabak, says there are a few critical levels Uber investors need to watch for after this report.

"There are some definitive lines I think that we could keep an eye on and that's the recent high and the recent low," Maley said on CNBC's "" on Monday. "On the resistance side, if you get above $35 which is its recent high, and the earnings can be a catalyst for that, that's certainly going to be positive. It's going to give investors a lot more confidence in the name, and probably squeeze a few shorts.

Uber briefly traded above $35 in early September. It has not traded firmly above this level since August. "On the negative side, however, if [Uber] rolls back over and the earnings are a catalyst for a dive in the stock and it drops below $28.50, its recent lows, basically its lows since it went public, that's going to be a big problem because I think it leaves a lot of people just throwing the towel on the name," said Maley.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

KerisAlison U all make Uber look like the greatest thing and it is nothing.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Uber Faces Earnings Test Ahead of Lockup Expiration: What to WatchUber is expected to report its quarterly loss narrowed from the previous period. Here is what else to watch for in the ride-hailing company’s results.
Source: WSJ - 🏆 98. / 63 Read more »

Uber reveals its new financial services team Uber Money - Business InsiderUber is launching a digital wallet, dubbed Uber Wallet, in addition to reintroducing the Uber Credit Card, and updating its Uber Debit Account.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Uber Q3 earnings preview: Analyst commentary leading up to report - Business InsiderAfter Lyft's rosy results, Wall Street is expecting that Uber will show a similarly strong quarter as the competitive landscape cools down.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Here comes Uber … - Business InsiderInvestors are hoping for an update on the ride-hailing giant's efforts to stave its cash-burn as it attempts to turn a profit for the frst time.
Source: BusinessInsider - 🏆 729. / 51 Read more »