Debut skids off the road as people reluctantly admit they hoped everyone else’s stupidity would help them cash out
It couldn’t have happened to a nastier company.
San Francisco-based Uber has had a miserable stock market debut. One of the most anticipated IPOs in years saw the tech biz value itself at $82bn with a share price of $45.
C’mon. Literally no one believes that Uber is actually worth $82bn, especially when it continues to lose billions of dollars every year, but everyone was hoping that everyone else would be stupid enough to imagine that everyone else was stupid enough to buy stock.
