Uber Uh-Oh: The Most Money Losin’ Company To Ever Go Public Opens Below Its IPO Price

The company with the largest operating losses to ever go public, Uber, just went public, and it’s a mess…

from Zero Hedge

Having IPO’d at $45 (raising around $74 billion), Uber’s is the biggest IPO since Alibaba.

But this morning, faced with an ugly market background, Uber’s indicative range has collapsed from around $48 to finally open at $42…

Not an auspicious start (but of course, the asset-gatherers and commission-rakers will remind everyone that Facebook fell after its IPO before soaring).

“How did the bankers get this so wrong” exclaimed one CNBC anchor…

Cramer warned:  “They have to get it to 46 if UBER does not want to be the end of the unicorn era”

Morgan Stanley has to stabilize UBER IPO at $45 per the agreement; it is facing tens of millions in losses.

As one CNBC guest noted “this is a trainwreck.”

 

Perhaps too many potential buyers took a look at this chart.

Meanwhile, LYFT is collapsing to new record lows…

And as one wit noted: