Uber’s path to profitability as it makes debut on the New York Stock Exchange
Today Uber made its debut today on the New York Stock Exchange at $42. That’s three dollars lower than the company’s initial public offering, which was announced yesterday. The ride-sharing app which many New Yorkers rely on is now valued at $82.4 billion. But while Uber CEO Dara Khosrowshahi has promised a futuristic vision in line with the likes of Amazon, the company continues to operate at a loss and it’s unclear whether investors will feel optimistic about its future. I talked with Tom White a senior research analyst at D.A. Davidson about Uber’s path to profitability and its rivalry with ride-hailing service Lyft.