In recent months, Uber's negative news never seemed to have stopped. Accompanying these negative news, Uber's stock price in the secondary market has been falling. It is generally believed that the recent "declining decline" of Uber's stock price is the main reason why Uber founder and CEO Kalanick was forced to resign by investors.
Analysts at market research institutions believe that Uber is currently valued at about $50 billion, which is far from the $68 billion valuation that early investors originally invested in it. This decline in Uber 's valuation is particularly noteworthy, as investors were happy to compete for Uber stocks at full or even premium in the secondary market last year.
The decline in Uber's valuation benefits its rival Lyft, whose stock price continues to rise. Some sources said that in the secondary market, due to the strong willingness of buyers and the existing Lyft shareholders are holding on, the discount rate of Lyft stocks in the secondary market has dropped from 20% to between 9% and 13%, and this situation is still continuing. "We clearly see Lyft's stock price rising," a source who asked not to be named said in a related trading report about Lyft.
"Lyft has become more attractive in part because of Uber's negative news. But the growth is also closely related to a recent round of financing. The person said Lyft completed a new round of financing worth $600 million in April, which valued Lyft at $7.5 billion.
It is unclear whether these trends will continue, depending on whether Uber can quickly fill the vacancies in executive positions and who will become CEO. Investors are waiting and seeing that Uber's stock price could rise if he finds a powerful figure like YouTube CEO Susan Wojcicki and works to calm the current market fears.
“The secondary market is not like the open market, you can see the buying and selling of transactions. It’s an opaque market, and it’s too early to judge Uber’s development,” said Santosh Rao, research director at Manhattan Ventures. “But I think investors will be cautious. I think those who are planning to buy Uber stocks are currently holding the currency.”
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