#961
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.

uber:

https://www.reuters.com/article/us-uber-stock/uber-shares-fall-for-second-day-after-ill-fated-ipo-lyft-follows-idUSKCN1SJ1EW

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.



tesla:

https://markets.businessinsider.com/news/stocks/tesla-stock-price-tumbles-lowest-level-since-january-2017-2019-5-1028195505

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 ()

#962
a bit more on the uber IPO

https://www.nytimes.com/2019/05/15/technology/uber-ipo-price.html
#963
#964
hahahaha

#965
**paging Drs. Freud, Lacan**
#966
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.
#967
https://www.bloomberg.com/news/articles/2019-05-24/the-tesla-stock-bubble-burst-sparking-existential-questions

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%.



#968
after 10000 years I'm free. It's time to build a car tunnel
#969

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 ()

#970
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.
#971
bad news, friend. ya gotta have money, to make money.