Investors who ditched Uber's stock last week are idiots: Here's what's really going on.
Uber stock took an 8% dip last week. CEO Dara Khosrowshahi complained that people are still asking,"can Uber ever be profitable?" Uber didn't"lose" $5.2 billion in Q2, as the headlines suggested. In fact, it added $5.3 billion in cash. Uber's cash on hand went up to $11.7 billion. The"loss" was a non-cash technicality, not an actual loss of cash. The company makes money hand over fist. Investors may have misunderstood Uber because of its sheer size.
Uber stock took an 8% dip last week. CEO Dara Khosrowshahi complained that people are still asking,"can Uber ever be profitable?" Uber didn't"lose" $5.2 billion in Q2, as the headlines suggested. In fact, it added $5.3 billion in cash. Uber's cash on hand went up to $11.7 billion. The"loss" was a non-cash technicality, not an actual loss of cash. The company makes money hand over fist. Investors may have misunderstood Uber because of its sheer size.
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