Uber shares fell more than 7% on its first day of trading and were down as much as 10% Monday.
's IPOs, which also had rocky starts before growing their massive market caps. He also said the IPO raised a lot of capital for the company that will be reinvested into improving margins and profits.I'm looking forward to being in front of you at the All Hands tomorrow, but I wanted to send you a quick note in the meantime.
Like all periods of transition, there are ups and downs. Obviously our stock did not trade as well as we had hoped post-IPO. Today is another tough day in the market, and I expect the same as it relates to our stock. Every stock is valued based on the projected future cash flows/profits that the company is expected to generate over its lifetime. There are many versions of our future that are highly profitable and valuable, and there are of course some that are less so. During times of negative market sentiment, the pessimistic voices get louder, and the optimistic voices pull back.
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