“There could be an avalanche of selling as
insiders and early private investors head for
the exits,” said Dan Ives, managing director at
Wedbush Securities.
During the third quarter, Uber reorganized
its financial reporting into five segments:
Rides, Eats, Freight, Other Bets — which
includes bikes, scooters and transit— and
Advanced TechnologiesGroup, which includes
autonomous vehicles.
That increased transparency around the business
units is a step in the right direction, Ives said.
Uber’s stock price has lost nearly a third of its
value since its initial public offering in May.
The stock was down about 5% in after-hours
trading following the earnings report.