There's no such thing as crisis discount for holdings like Uber
Washington
UBER is in crisis. But don't worry about its stock. One of the perks of being a private company is that it can be mired in scandal and not have to watch the market whipsaw its stock around. Or in Uber's case, a spectacular series of scandals.
In January, the #DeleteUber movement resulted in at least 500,000 users deleting their accounts. In February, Uber brought in former US attorney general Eric Holder to investigate accusations of widespread harassment and discrimination. In March, a video went viral showing CEO Travis Kalanick berating an Uber driver. In April, a string of Uber executives resigned. There's more, but a full recitation would require a separate column.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
BNP Paribas beats estimates as lower costs offset trading slump
TikTok ultimatum puts US firms in firing line for China response
Toyota and Nissan pair up with Tencent and Baidu for China AI arms race
BHP targets Anglo American in bid valuing miner at US$39 billion
FTSE 100 hits record high on big mining M&A, earnings push
Hermes Q1 sales jump 17% on strong China demand