IPO news

A type of public offering in which shares of a company are sold to institutional investors and usually also retail (individual) investors.

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If You Stupidly Invested $1,000 in the Uber IPO, Here’s How Much You Threw Away

By CCN: The Uber stock price continues to freefall today following a historically terrible initial public offering (IPO). Last Friday, Uber held its first day as a publicly traded company with a starting price of $42 – already three dollars below its IPO price. Throughout the day, the stock continued to slide, ending at $41.70. In the process, investors lost a record $655 million with the Saudi Arabian Public Investment Fund (PIF) taking one of the most substantial hits ($201.5 million). Uber Stock Risks Becoming a Bottomless Money Pit If you foolishly threw $1,000 into the Uber IPO, you’d only The post If You Stupidly Invested $1,000 in the Uber IPO, Here’s How Much You Threw Away appeared first on CCN
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Despite IPO Fumble, Uber Technologies (UBER) Can Still Surge

Call it poor timing, unfortunate circumstances or just hype gone bad, but Uber Technologies Inc. (UBER) has had a dreadful debut as a publicly-traded stock. The company […] The post Despite IPO Fumble, Uber Technologies (UBER) Can Still Surge appeared first on Hacked: Hacking Finance.
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Will Morgan Stanley Suffer Consequences After Uber’s Horrific IPO?

Coinspeaker Will Morgan Stanley Suffer Consequences After Uber’s Horrific IPO?Although one of the most anticipated IPOs of 2019, Uber Technologies Inc. produced an unusual bad stock performance, it seems that Morgan Stanley bankers could happily rub their hands – or will they?This for sure can not be said for wealthy clients who believed in Morgan Stanley’s suggestions and invested in Uber’s IPO. Now it’s up to see will they stay faithful to the Wall Street giant.It was 2016, when Morgan Stanley offered its elite clientele a chance to get in early on Uber’s eventual market listing as the investment bank privately raised money for the ride-hailing platform.Just to remind you, last week, according to noted IPO watcher Jay Ritter of the University of Florida, on a dollar basis, investors who purchased the 180 million shares offered through the IPO at $45 per share collectively logged $618 million in paper losses Friday.For their wealthy clients, Morgan Stanley provided exposure to Uber at a $48.77 share price. Their holdings would be convertible to Class A stock in the IPO. Morgan Stanley employees also got a chance to invest under similar terms.The minimum investment was $250,000 and Morgan Stanley said clients could be charged up to 2% of the capital they committed to the fund. And the documents valued Uber at a hearty $62.5 billion, a level labeled “reasonable” given Uber’s competitive advantages and growth prospects.Investors have been wary of the fact that Uber has never made a profit. They were also warned in its investment prospectus for the float that it may never do so. Last year it made an operating loss of $3bn.The company then said:“We have incurred significant losses since inception, including in the United States and other major markets. We expect our operating expenses to increase significantly in the foreseeable future, and we may not achieve profitability.”The listing also meant that a select group of early investors, including the Amazon boss, Jeff Bezos, and the drugs cheat cyclist Lance Armstrong, have made billions of dollars between them because the value of their investments has now been crystallized.Some have also sold shares to new investors, cashing in on their investments, some of which were made when the company was valued at less than $1bn.Of course, this could be just an anomaly. The first day of trade doesn’t necessarily determine the fate of stock and Uber could certainly still join the celebrated group of popular tech stocks, even with a tough ride out of the gate. Dara Khosrowshahi, Uber’s chief executive officer, said in an interview on the floor of the New York Stock Exchange that trade tensions between the U.S. and China played a role in the weak performance.It Isn’t Over YetCo-founder of The Street, Jim Cramer, thinks that this, however, is not manipulation. He said:“I’m mindful it’s the middle of the day. If Morgan Stanley uses my strategy of letting all the weak hands out and then coming in with a blitz of orders, then I think you’re going to say, well, you know, why didn’t Jim say buy it right then? This is now people have to understand and I haven’t done a lot of syndicate work. This is not manipulation.You’re allowed to do certain things on a day like today, if you’re a broker that you typically couldn’t do and what they need to do is wait a little bit longer, make sure everybody who was worried is gone, and then boom. So I don’t want to say it’s over. It’s too early. I will say that that is the only part of the playbook that’s left and it must be done in order to make it so that we do not have a really ugly, ugly day.”Despite Uber’s slow start, analysts at the Los Angeles based investment firm Wedbush said they expected its share price to rise in the longer term to $65, which would value the company at $118bn. They said:“The brand loyalty of Uber is hard to dispute as the company continues to attract drivers and consumers illustrating an impressive formula to go after a $5.7tn opportunity globally on transportation which swells to $7-$8tn when including third-party food delivery and freight/logistics.”Will Morgan Stanley Suffer Consequences After Uber’s Horrific IPO?
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Uber IPO Smacks Saudi Wealth Fund with $200 Million Loss

By CCN: The Saudi Arabian Public Investment Fund (PIF) was one of the first believers in Uber, ponying up billions of dollars to invest in it back in 2018. Now that the ride-sharing company has finally gone public, the fund stands to be one of the biggest losers. The fund bought in at $48.77 a share, far higher than Uber’s debut price of $42. At the time of writing Friday, Uber shares were fluctuating between about $42 and $45. Uber IPO Leaves Mighty Wake The Saudi Arabian fund, which is the country’s main investment fund, sank $3.5 billion into Uber The post Uber IPO Smacks Saudi Wealth Fund with $200 Million Loss appeared first on CCN
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Uber IPO Ignites $70 Billion Rideshare Stock’s Ticking Time Bomb

By CCN: Uber stock slumped toward a disappointing 7.62% loss following its blockbuster IPO on Friday, and the rideshare giant must now wrestle with an uncomfortable time bomb that has already started ticking. That time bomb? Driver compensation – and the backlash it has already begun to generate. Uber’s Alarmingly Low Pay Rate is Not Sustainable Two of Uber’s foundational resources are drivers and their vehicles, without which they cannot pick up passengers. For there to be a sufficient number of drivers, there must be enough incentive in the Uber pay scale to recruit them. In the early years, Uber The post Uber IPO Ignites $70 Billion Rideshare Stock’s Ticking Time Bomb appeared first on CCN
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PSA: Bitconnect ‘2.0’ Triggers Countdown to Resurrect Greatest Crypto Ponzi Ever

By CCN: In 2016 a cryptocurrency project named BitConnect came along offering 1% daily compounded interest for those who purchased and staked its token. When the BitConnect (BCC) bubble inevitably burst, the owners, as expected, made off everyone’s money. The BCC token price sunk by 99.9%, and a previously $2.5 billion valued project became worthless. Now, the greatest scam ever sold is back. Enter BitConnect 2.0. Hey, Hey, Hey: BitConnect 2.0 Arrives for a Second Bite at the Cherry A website and Twitter profile advertising the arrival of BitConnect 2.0 appeared in the last few days. The website shows a The post PSA: Bitconnect ‘2.0’ Triggers Countdown to Resurrect Greatest Crypto Ponzi Ever appeared first on CCN
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Scam Alert: Bitconnect ‘2.0’ Claims Binance Listing for July Launch

The return of notorious cryptocurrency ponzi scheme Bitconnect is closer than ever, its mysterious organizers claim after revealing a July launch date. Bitconnect: Unapologetically Fraudulent A fresh tweet from the Twitter account of the so-called ‘Bitconnect 2.0’ May 18 confirms the scheme is set to debut – again – on July 1. Not only that, but true to the style of deception for which the original Bitconnect became known, a fake exchange partnership has already surfaced. The owner of the Twitter account added prospective investors can purchase tokens on major cryptocurrency exchange Binance – when in fact this is simply a lie. “Welcome everyone back to Bitconnect 2.0[.] We will launch Bitconnect2.0 on July 1st,” the post reads. Welcome everyone back to Bitconnect 2.0We will launch Bitconnect2.0 on July 1stvisit our website for more Infoshttps://t.co/xKJ10yeYoP — Bitconnect2.0 (@Bitconnect2_0) May 18, 2019 Despite claiming further information is available on its ‘official’ website, the social media activity remains the only hint of the impending plans. The site consists only of a sign-up form for updates, a countdown timer and a duplicate of the Twitter feed. Beyond the assumed launch date, however, the operations of the latest incarnation of Bitconnect remain a mystery. As Bitcoinist reported, the original Bitconnect – ostensibly an exchange and lending platform – crashed in January 2018 after it became sufficiently known the company was fraudulent. Formerly something of celebrity meme in the crypto space, thanks mostly to events speaker Carlos Matos, the mood turned sour as Bitcoin came off its all-time highs of $20,000. Investors saw the value of their Bitconnect tokens drop to virtually nothing in minutes, with cryptocurrency industry figures lamenting that those without experience were still easy targets for scammers. Criminal proceedings followed, yet it remains unclear whether Bitconnect 2.0 has any relation to its predecessor beyond sharing a name. A Scam To Rival OneCoin On social media, reactions overwhelmingly focused on issuing warnings not to interact with the scheme, even if it should succeed in offering new tokens. Others noted the Bitconnect.io domain name will expire before the alleged launch date. Binance and CEO Changpeng Zhao (known as CZ) have yet to comment on the Twitter account’s claims of a partnership. Another entity meanwhile is attempting to gather members for a Bitconnect community on messaging platform Discord, participants already numbering close to 500. Bitconnect’s resurgence comes in line with the renaissance seen throughout Bitcoin and altcoin markets. Equally poetic is the timing following on from the ‘death’ of fellow ponzi scheme OneCoin, the founders of which spent years accruing around $4 billion. Now subject to legal action, OneCoin nevertheless succeeded in fooling the public to hand over huge amounts of money, despite warnings from various governments and associated watchdogs. What do you think about Bitconnect 2.0? Let us know in the comments below! Images via Shutterstock The post Scam Alert: Bitconnect ‘2.0’ Claims Binance Listing for July Launch appeared first on Bitcoinist.com.
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BITCONNECT 2.0 is Here! - MY RESPONSE! - Please share this video, save kittens!

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Twitter Spoof: BitConnect 2.0 to Return in July; BCC Token to Rise from the Crypto Graveyard?

Bitcoinnect is known for its high yield investment platform Bitconnect.co. The company had a cryptocurrency Bitconnect Coin (BCC) which investors bought with Bitcoin to gain a 0,25% daily interest. The company also has a lending platform and exchange which closed due to warnings from Texas and North Carolina authorities. Some unknown person is however working […]
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