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Uber gets quoted on NYSE tomorrow (and has no ticker code until then) and Lyft (NASDAQ:LYFT) is already bumping around. One has to be careful with Uber. On the face of it it is very dear. But only 10% or so will be floated and fashion will demand that the punters will get stuck in. So what ought to go down from say $80 can easily go up – think Tesla (NASDAQ:TSLA).
Uber has restricted its drivers to 10 hours a day but a few days ago a chum was in Paris and asked his driver why the driver had three mobile phones set up on his dashboard. This, he replied, would allow 30 hours a day – and obscures the safety objective.
Given that Uber has, even post float, virtually no asset backing, it is a long term short – provided one can borrow the stock. It is too early to reckon whether that proviso will be met. Hold back.
Elsewhere, the world has clearly gone potty on veganism. Hence Beyond Meat (NASDAQ:BYND) is rocketing. More follows.
Finally, I am out of hospital after four months flat on my back. Mercifully I have got 75% of the use of my legs back.