https://wccftech.com/uber-facing-critical-week-as-london-temporary-licence-due-to-expire/

Uber (NYSE:UBER) has had a pretty tough time of it recently as its vaunted IPO has led to a muted follow up in the market since it went public with the $45 placing price of the IPO trading underwater with the exception of a few days in June and July. At time of writing, this means the company has lost a staggering ~$30 billion in market cap since its IPO, eye watering performance for anyone who bought in initially.

Yet all is not lost. IPO investors would hopefully be eyeing up long term positions in what looks to be a utility company which everyone kind of feels they can’t live without. Even so, Uber is burning through cash at a somewhat alarming rate having reported earnings in August with a $5.24 billion loss although to be fair, almost $4 billion of that loss was from giving employees stock and options when it went public. After the earnings went public, the stock which had at least been within touching distance of its placing price plunged to the mid $30s and has stayed roughly there ever since.