Uber stock facing crisis
Posted by langegroup on November 6th, 2019
Uber CEO Dara Khosrowshahi’s approach to Wall Street, and his lack of communication is taking its toll on the company reports suggest. Uber saw the company’s share price crash almost 9% on Tuesdays trading after the company announced their mixed third quarter results. Since the companies May IPO the stock has seen a 38% plunge in value. The huge fall in share price didn’t completely shock Wall Street’s analysts, as it was to be expected.
Some key figures that stood out to investors:
Khosrowshahi was able to finally address investors’ concerns over profitability and outlined the company’s plans to create a sustainable and profitable future in their earnings call. With the new plan announced, the company has said they expect to be profitable on an adjusted basis by the end of the financial year 2021. If the company had addressed this concern in the last quarter, the market and investors would have most probably embraced the long awaited details on profits.
About the Authorlangegroup
Joined: October 3rd, 2019
Articles Posted: 5
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