Wednesday, November 9, 2016

Uber Stock is still in high demand.

JPMorgan and Deutsche Bank passed on the opportunity to sell shares of Uber to their high net worth clients, based on the lack of financial data the company provided, Bloomberg reports. Morgan Stanley did not, and its 290-page prospectus included 21 pages of risks but no net income or annual revenue figures.

Fortune's Erin Griffith, stated "I thought this might be a story about Uber finally needing to grow up and start reporting its financials, no matter how ugly they may be. The company is done burning through billions to compete in China, after all. But it isn’t. Despite its nosebleed valuation, Uber stock is still in high demand from investors of all stripes, the report says."

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