Home › Forums › Financial Markets/Economics › Shorting SNAP › Uber can now be easily
Uber can now be easily shorted.
Their quarterly report shows weak rideshare revenue growth and their largest loss from operations ever.
Good enough for me to short.
The only bright spot I saw was Uber Eats, but it is still small and lots of competition.
Loss from operations just in Q1 was a record 1.03B. Total losses since founding of 8.87B.
I do like the company, but the stock at $40 per share and $67 bil market cap seems crazy to me.
I shorted today half of what would be the largest position I am comfortable with. Will add to the position if it hits $44.
