fell to fresh lows on Tuesday, posting their lowest close ever, as the ride-hailing companies face growing skepticism from investors.
Uber closed down 5.7% to $30.70, falling below its previous low of $32.57 on Aug. 30. Earlier in the day, the shares hit an intraday all-time low of $30.67. Lyft experienced a similarly steep drop, ending the day down 7.2% to $45.42, compared to its previous low of $48.15 on May 13. The stock dropped as low as $45.40 on Tuesday, touching a new intraday low.
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.
What do you expect when you steal from the people that help you profit or in this case not profit. Use traditional black car service or taxis.
Terrible leadership
Force these companies to pay drivers fairly.
Good! They’ve stolen enough of peoples money!
Haven't used a uber for 6 months taxis have improved and now on par with cost....
Uber reported a net loss of $5.24 billion for its second quarter of 2019....that's a quarter guys $5.24 fucking billion 🤣🤣🤣 be broke within a year....
What do you mean lost..they never had it, biggest scam ever. But the boys made billions so why should they care anymore.... living the high life now.
Too bad. My opinion is that Uber and Lyft are very similar to Sirius and XM. In order to survive and be profitable Uber and Lyft will need to merge.
Excellent news
A giagantic money-grab. It can be done, but the profits won’t be what these greedy sobs wanted... they’ll likely have to de-list and start over to figure it out.
When the CEOs decided to cut into their employees pay I decided to rent a car instead when I travel. You blew a good thing Uber and Lyft.
Who'd have thought that a business model where the employees lose money (or make very little) wouldn't be a good model?
mr_jettlife
Time to buy
duh
If they stop spending billions just for employee amd executive stock based compensation,...
BarbarianCap Investors = insiders desperate to finally cash out post lockup
BarbarianCap Garbage companies
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Source: CNBC - 🏆 12. / 72 Read more »
Source: CNBC - 🏆 12. / 72 Read more »