Uber finally stopped the bleeding on Wall Street, but it still has a lot to prove
The stock rose nearly 3% Tuesday after its lackluster debut on Friday. But its shares remain 15% below their initial public offering price. If Uber hopes to motor even higher, it will need to persuade investors that it can find a road to profitability relatively quickly, and convince them to stick around for the long haul.Many investors remain unconvinced that Uber can turn around its fortunes, because it remains in a tough battle for market share with rival Lyft .
Uber investor: Lyft is definitely a challenger 02:49But Uber's financials may make it difficult for the company to quickly move into new businesses, argued Len Sherman, a professor at Columbia Business School."Uber is in a terrible position as it continues to lose money. There are no easy paths out of the ditch that they've dug themselves into," Sherman said, adding that he's not sure that food and freight deliveries will be enough to make the company profitable.
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