Rabu, 29 Mei 2019

What's moving markets today: Live updates - CNN

Despite Uber's less-than-impressive performance after going public, one analyst remains optimistic on the company.

Wedbush Securities' Daniel Ives said in a new note that that despite the "negative noise," he remains positive on Uber (UBER).

The company went public earlier this month and is trading 9% below its $45 IPO price

"This week marks an important step forward for Dara & his team to prove to the Street that this business model is still in the early days of playing out," Ives said of Uber's first earnings report, which comes out Thursday.

Ives admitted that it will be a "long and winding road for Uber" to prove its value, he's optimistic the company will successfully expand beyond ride-hailing:

A core tenet of our bull thesis is around Uber's ability to morph its unrivaled ridesharing platform into a broader consumer engine with Uber Eats, Uber Freight, and autonomous initiatives 'just scratching the surface' of the full monetization potential."

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https://www.cnn.com/business/live-news/stock-market-news-today-052919/index.html

2019-05-29 13:28:00Z
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