Before the initial public offer, Uber was considered to be one of the biggest IPOs in the last decade, also representing a potentially some of the most successful IPOs in ages.
Uber was also said to be the biggest IPO according to estimates since Facebook (FB) and Alibaba (BABA) arrived at the market, being evaluated at 120 billion dollars. Estimates were later adjusted to between 90 and 100 billion, then declined to around 81 billion dollars prior to Uber public debut.
The opening sale didn’t go as planned for Uber, while according to CBS News, Uber investors better buckle up for a “bumpy ride”.
Opening debut trade at the lower end of share price estimates, Uber started below the low end of pre-IPO estimates, starting at little above 41$. Sale didn’t go as originally planned, deemed one of the greatest disappointments in the market of tech IPOs.
Uber is still dropping in the market, while Uber share price touched 36$ after -12% decline in mid-May. With the latest closing on May 27th, Uber shares got back to 41$, however, many analysts and investors are sticking with bullish predictions.
Uber a Part of $1.2 Trillion to $5.7 Trillion-Dollar Ridesharing Market
Uber is still not profitable although the company reported 43% increase in revenue for 2018, topping 11.3 billion dollars. The ridesharing giant could soon turn in some valuable signs of profitability.
In the meanwhile, investors are keeping bullish predictions, considering that the global ridesharing market could be worth between 1.2 trillion and 5.7 trillion dollars, having Lyft (LYFT) and Uber (Uber) a valuable part of the ridesharing pie.
The highest price for Uber shares is set at 41.51, with the lowest set at 40.50$ per share, from the opening position of 41.28. It is obvious that Uber didn’t make disruption in the last several weeks since its IPO debut.
Uber’s market cap is set below the initial estimates, at 69,84 billion dollars. In the next period of 52 weeks, the highest price could be 45$ per share with the lowest price set at 36.08$ for the same period.