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.
KerisAlison U all make Uber look like the greatest thing and it is nothing.
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: WSJ - 🏆 98. / 63 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »