The above is a (British) Telegraph heading. Is it a justifiable news story? Yes; specifically who’s the mug who outlaid the $500 million for this doomed dog?
As I’ve repeatedly written, Uber can only survive as a socially useful co-operative. What it can’t do is make a corporate profit. It’s the easiest walk-in-the park short sell situation out there. Not withstanding the founder being the share seller, always a giveaway signal, you may think someone feels differently about Uber’s prospects. In fact the probable explanation is that the buyer was a short seller when the share price was much higher. He’d have sold at that high price level with borrowed stock and is now buying in at a lower level so as to replace the shares he borrowed.