Evil Knievil: One has to be very careful with Uber

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Evil Knievil: One has to be very careful with Uber
Master Investor Magazine

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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.

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Elsewhere, the world has clearly gone potty on veganism. Hence Beyond Meat (NASDAQ:BYND) is rocketing. More follows.

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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.

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