Skip to main content

Dow Drops 600 Points, Uber Announces IPO Will Price At Top, And Our Work Here Is Done

No one wants to hold equities today but everyone wants to hold Uber on Thursday, claims Uber.

Let's play a little game.

If logic holds, a company IPO'ing on the promise of growth, and only the promise of growth would require a strong market environment to justify its heady valuation.

So, how are things today?

Screen Shot 2019-05-07 at 3.13.59 PM

Wow! It would suck to go public this week then, especially considering that everyone is looking at the China trade deal talks set for Thursday. Can you imagine IPO'ing on Thursday if you're a global brand with no underlying financial strength outside ephemeral global growth? Oh, right...sorry, Uber.

Uber Technologies Inc. has enough investor demand to price its initial public offering at the top end of its price range, people familiar with the matter said.

With more than 48 hours to go before the ride-hailing giant’s IPO is expected to price, investors have put in orders for at least three times the amount of stock on offer, the people said, asking not to be identified as the details aren’t public. Still, Uber is expected to price the sale within its existing range as it is keen to ensure strong aftermarket trading for the stock, they said.

Uber’s share sale, which could raise as much as $9 billion, is likely to be the largest this year and one of the 10 biggest U.S. listings ever, according to data compiled by Bloomberg. The San Francisco-based company, which is due to price its shares Thursday, hasn’t made a final decision on the price at which they’ll be sold, the people said.

The markets are yet another spouse being gaslit by Donald Trump. China is feeling "playful," Silicon Valley exceptionalism is real and Thursday is going to be fucking awesome.

Uber IPO Has Enough Demand to Price at Top of Range [Bloomberg]


Who'd want to invest in something like this? By Yinxinybyq [CC BY-SA 4.0 ], from Wikimedia Commons

Uber's $100 Billion IPO Is The Final Symptom Of A Very Dumb And Very Fatal Disease

The hubris of everyone's least-favorite ridesharing company is outmatched only by its pile of burning cash.

Who'd want to invest in something like this? By Yinxinybyq [CC BY-SA 4.0 ], from Wikimedia Commons

Uber Will Let Citadel Make The Market For Its IPO Because Uber Is Apparently Not Taking Many Chances

After Lyft's nightmare, Uber is at a Ken Griffin level of not f@cking around.

Uber hindenburg

One Day After Underpromising, Uber Plans To Under-Deliver On Its IPO

"Surge pricing on our stock is a little lower than normal."

Stoner Traders

Markets Considering Possibility That Escalating Tariffs Between Two Largest Global Economies Are Indeed Bad

Rising costs on goods might be bad for consumers AND manufacturers, muses everyone.

Jay Powell Peloton

Peloton CEO Uses IPO Day To Prove That He's Only Kind Of Been Paying Attention

Hey, when was the last time that admitting to ‚Äúprioritizing growth over profitability‚ÄĚ bitten a tech IPO in the ass?


On China Trade Update, Trump Zigs While Mnuchin...Mnuchins

You guys want to see the new "Who's on first?" routine, but about the slow death of the global economy?