India  

Jim Cramer: 'I Don't Really Care About Uber' Unless it Sells Uber Eats

Video Credit: The Street - Duration: 01:05s - Published
Jim Cramer: 'I Don't Really Care About Uber' Unless it Sells Uber Eats

Jim Cramer: 'I Don't Really Care About Uber' Unless it Sells Uber Eats

Jim Cramer weighs in on Uber, which had its lock-up period expire Wednesday, Nov.

6.

Shares of ride-hailing giant Uber touched record lows on Wednesday, with the stock backing up more than 6% at the open as the lockup period on the company's shares held by early investors and employees expired, opening the window for insiders to sell their shares.

With this week's losses, the ride-hailing and the food-delivery-ordering stock has fallen 38% from its $45 initial public offering price.

With Wednesday's lockup expiration, an additional 84% of the company's current fully diluted share count comes onto the market, reported TheStreet's M.

Corey Goldman.

That translates into some 763 million additional shares, or $20 billion of Uber stock, hitting the market, Wedbush analyst Daniel Ives estimated in a recent research report.

The lockup expiration could "cause an avalanche of selling as early investors and insiders hit the bid, which remains a major Street worry around near-term pressure," Ives wrote.

Bull Market Fantasy: LIVE TUESDAY & THURSDAY @10:45AM Subscribe to our Youtube Channel for more videos : Listen our latest Podcasts on Soundcloud Catch Up: Today's Top News Videos Below


You Might Like


Tweets about this


Related videos from verified sources

Despite Recent Controversy, Twilio Remains a Good Buy, Jim Cramer says [Video]

Despite Recent Controversy, Twilio Remains a Good Buy, Jim Cramer says

Jim Cramer is sticking with fast-growing cloud services provider Twilio , arguing that a pair of high-profile mistakes have not dimmed the explosive growth potential of a tech company that has..

Credit: The Street     Duration: 03:43Published
How To Approach Uber Shares [Video]

How To Approach Uber Shares

Uber posted a quarter that beat on the top and bottom lines on Monday afternoon, but investors and analysts chose to focus on some different numbers. But is the selling over? Although the stock was..

Credit: The Street     Duration: 02:14Published
Jim Cramer: Uber Should Consider Selling Uber Eats to Grubhub [Video]

Jim Cramer: Uber Should Consider Selling Uber Eats to Grubhub

Real Money Stock of the Day Uber reported after the bell Monday. Uber said its loss for the three months ending in September expanded to 68 cents per share, well shy of the 54 cent loss Wall Street..

Credit: The Street     Duration: 02:07Published