Let's start with a simple question.
If you're an investor living under a rock, you may have missed the 10% nosedive today. To $28. You may have also missed the fact that the stock has plunged almost 40% from its IPO price ... back when Old Wall analysts were upgrading telling everyone to buy the stock in unison.
Our analyst Jay Van Sciver didn't fall for it.
He was advising people to short the stock from the beginning when gullible/vulnerable investors were being shepherded into the abyss.
Van Sciver argued that for the amount of cash UBER is burning, the ride-sharing company should be growing at a much faster rate than it currently is.
“I think that when people look back at this particular market, what’s the anomaly they’re going to focus on? I think it’s going to be the ability of these companies to do capital raise, after capital raise, in order to generate results that look pretty disappointing,” he said.
“I think what’s going to come out is that the market opportunity is much smaller than people expected.”
Below is a clip from his August 12th appearance on The Macro Show.
If you're an institutional investor interested in accessing Van Sciver's research email email@example.com