market down in general today because of the us/china trade tariffs thing. but lyft down to a new low, uber shares down again, tesla down to their lowest value in 2 years.



The fall in shares comes against the backdrop of a global stock market selloff sparked by renewed trade tensions between the United States and China.

The stock hit a low of $36.58, valuing the company at about $14 billion less than the IPO price of $45. Shares of smaller rival Lyft Inc, which went public at $72 a share on March 29, were down 7.3% at $47.38.

Uber’s stock “did not trade as well as we had hoped post-IPO”, Chief Executive Dara Khosrowshahi wrote in a memo to employees that was seen by Reuters.

“Sentiment does not change overnight, and I expect some tough public market times over the coming months. But we have all the capital we need to demonstrate a path to improved margins and profits,” Khosrowshahi added.

Bloomberg first reported the news based on the memo.

Uber lowered its valuation expectations twice in the past two months to address investor concerns over its mounting losses, and finally priced its IPO at the low end of the targeted range in a bid to avoid Lyft’s stock market struggles.

Uber’s market capitalization has fallen to about $61 billion since its IPO on Thursday, still larger than Wall Street heavyweights including General Motors and FedEx.



Heavy selling on Monday morning pushed shares down 4.44% to $229 apiece, their lowest level since January 2017. The stock is on track for a fifth straight day of losses.


Tesla shares have been under pressure throughout 2019 but have plunged 22% since the company reported disappointing first-quarter deliveries on April 3. Also weighing on shares was a huge Q1 loss and a capital raise that underwhelmed some Wall Street analysts.

Tesla is down 32% this year.

Edited by Chthonic_Goat_666 ()

a bit more on the uber IPO


**paging Drs. Freud, Lacan**
i should also mention, while uber and lyft shares have kind of leveled-out for now, tesla shares continue to fall. down over 40% compared to the start of the year.

Morgan Stanley threw the biggest blow, declaring that in a worst-case scenario, Tesla’s shares could sink to a shocking $10. A Wedbush analyst said the carmaker is facing a “code red situation” and cast doubt on whether Tesla can sell enough of its electric cars to make a profit. And Citigroup and Robert W. Baird & Co. analysts, among others, slashed their target prices, citing concerns about cash flow and consumer demand.

The stock has fallen almost 10% this week, leaving it down a staggering 43% on the year. Some $23 billion in shareholder value has been wiped out, sinking the company’s market cap back below that of General Motors and Ford. Even Tesla’s benchmark bonds now trade at just 81 cents on the dollar, pushing their yield north of 9%.

after 10000 years I'm free. It's time to build a car tunnel

Chthonic_Goat_666 posted:

tesla shares continue to fall. down over 40% compared to the start of the year.

I'd consider assessments of Tesla's share price from Morgan Stanley, etc. to be at least in part a prediction from their perspective of whether Trump will be reelected in 2020, given Tesla's traditional sources of government largesse.

Not that I think Tesla will pull success out of their ass somehow, but rather that the truly dire assessments suggest the big investment houses/analysts don't think Tesla's going to be getting a public-sector injection from a Democratic executive anytime soon.

Edited by cars ()

Isn't there a whole community of people shorting Tesla that Elon Musk is constantly feuding with and who are the reason why he said he was taking Tesla public at $420 and got smacked by the SEC? Are all those people going to be rich? How does that work, I think I'd like free money.
bad news, friend. ya gotta have money, to make money.
i haven't really been keeping up with the news lately. tesla shares had been rising for the last 50 days or so and they got back to ~$260 after dropping to ~$180 in early June. that rise may come to another halt, as surprise, surprise, they posted a 400 million dollar loss in Q2 2019. on this news shares dropped today more than 10% back down to ~$235. i guess keep an eye on it to see if they continue to fall.

Elon Musk’s electric car company revealed in its quarterly earnings report an adjusted net loss of $1.12 per share, which was worse than the $0.31 loss expected. The company’s shares have plunged by more than 20% so far this year while the Standard & Poor’s 500 index has surged by 20%.

At an overall loss of $408m, the second quarter losses were an improvement over an unexpectedly large loss of $702m reported in quarter one. Tesla’s revenue climbed 47% from the same time last year to $5.2bn. The company also generated $614m in cash during the quarter. But analysts say the earnings are concerning.


if you buy low, and sell high, ive heard you can do pretty well
uber seems to have lost $4.96 billion this quarter
sorry everyone, i lost 4.65 billion dollars, won't happen again

swampman posted:

uber seems to have lost $4.96 billion this quarter


Uber complicates the analysis somewhat. Its third-quarter operating loss is estimated to be $4.96 billion. Yes, you read that right. The figure accounts for costs related to the initial public offering. Lyft posted a similar, albeit much smaller, expense in a previous quarter.

official results out august 8 iirc.

lyft loss 644 million in Q2 2019


In Q2, Lyft beat on revenue with $867 million for the quarter, compared with $505 million in Q2 of last year, but Lyft also had net losses of $644 million for Q2 compared to $179 million in the same period of 2018. The company pinned their adjusted net loss (which accounts for amortization of intangible assets and stock-based compensation expenses among other expenses) even lower, at $197 million versus $177 million in 2018 Q2.

uber tomorrow.


5.2 billion dollar loss for uber in q2. im no expert but it looks like $4.2 billion of that was due to one-off IPO-related expenses:

(1) Q2 2019 includes a $298 million driver appreciation award made in connection with our initial public offering.

(2) Q2 2019 includes $3.9 billion of stock-based compensation expenses, primarily due to RSU expense recognition in connection with our initial public offering.


so aside from ipo stuff they lost their usual 1 billion.

this section in the uber financials lol

This press release contains forward-looking statements regarding our future business expectations which involve risks and uncertainties. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. Forward-looking statements include all statements that are not historical facts and can be identified by terms such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “hope,” “intend,” “may,” “might,” “objective,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would” or similar expressions and the negatives of those terms.

That's messed up

As tyrannical moderator of this subforum, I declare the original version of Dreams acceptable as a reference to the 火車 meme.
jesus now they're hacking tesla too?
This is releveant bc i dont feel like making a "USA about to implode" spinoff thread

swampman posted:

This is releveant bc i dont feel like making a "USA about to implode" spinoff thread


good article focusing on musk's solar panels

Kickstarter union busting and axing highly visible public figure employees, I don't think this guy would have taken it even if they'd offered way more but they sure did insulting lowball their attempt at NDA hush money.
uber and lyft shares both at new all-time lows in the past few days
sounds like their shares could really use an uber lyft!
im not keeping up with this stuff lately but uber lost another 1.2 billion in q3 2019, sending their shares to a new all-time low of ~$26.

also a lot of early employees and investors are now free to sell their shares (previously had been restricted), which will send shares down further
watch congress bail out uber.