Uber Technologies, Inc. (UBER) listed on May 10th, 2019, with a build-up, subsequent fanfare, and a management promising big thigs for investors. It did not live up to this promise. After The Edge highlighted it was one to be avoided, a few days later after the snap-crackle-and-pop of the IPO, CEO Dara Khosrowshahi acknowledged Uber’s rocky trading debut and indicated “‘tough public market times could take months.” It would take almost another year and half for investors to get their money back.
The turnaround in the environment and the subsequent vaccine-led rally (which has helped the market including UBER) is still keeping investors underwater on their purchase, but now might be the time to load up. After top-class CEO Khosrowshahi bought $9 million in shares, The Edge believes there is significant upside for investors prepared to believe in the ride-sharing company’s vision. Khosrowshahi’s only other purchase was in November 2019, when he bought 200,000 shares at $26.75 and saw a six-month return of 30 percent, indicating a positive trading history.