This article is brought to you by a Russian Telegram channel "Antihype on money," an analytical channel about all economic hype trends and their triggers.
What happened: Uber quotes suffer a new strike. It became known the company failed to renew its license in London. As a result, stocks lose more than 4%. This is significant damage to Uber's reputation, which can put an end to the rebound of quotes. Stocks are trading near $28,3 by having stopped the growth that started since November 15 from levels near $26.0 up to $30.30.
What really happened: Uber can continue to work in London (endless appeals are expected to come). It's known that the company has been a subject for sanctions for a long time here. Although there has been an obvious downward trend since the end of June, demand for Uber stocks has risen sufficiently since the recent failure — trading volumes have risen sufficiently along with price increases. Removal of restrictions on the sale of stocks after entering the IPO (the lock-up period) gave a strong bearish impulse to the stocks, which, however, was depleted by mid-November. The current quotes fail is rather triggered by a thin premarket market than a signal of concern for investors.
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