.BrettArends: Sorry, bears, Uber's bad IPO has nothing to do with the company's future success
Facebook’s FB, +3.27% initial public offering was way worse.
“In the long run, we don’t see predictive power for future performance from an IPO that drops below its initial price,” she said. Renaissance runs an exchange traded fund that focuses on newly public companies, the Renaissance IPO ETF IPO, +1.13% They’re changing social behavior the way Facebook, Apple AAPL, +1.40% Amazon AMZN, +1.76% Netflix NFLX, +2.67% and Alphabet GOOG, +4.16% GOOGL, +4.35% have done. Thanks to Uber and Lyft, a growing number of people no longer have cars. It’s now viable to live without a car in most U.S. cities and many suburbs.
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