Business
Uber IPO Lockup Expires; How Would it Impact Other Companies?
The lockup period of 180 days finally ended yesterday for Uber, and its shares fell to an all-time low. What does a lockup mean for companies? It means that investors and employees are free to sell their shares. This came shortly after Uber made a report about their report that it is losing rather than gaining. This gave transparency about different breakouts. This report failed to provide reassurance to its investors. Hence, the significant loss.
Uber got the lowest share when the market opened on Wednesday, $25.58. On Tuesday, it had a $27.97. Its IPO price is $45, which made it 40% lower than its original cost. Dan Ives, an analyst from Wedbush Securities, estimates a considerable risk for Uber, projecting around 25% sales of stocks. This has been one of the darkest days for Uber, but it should also start to bounce back after all of these.
One hundred thirty million shares were traded on Wednesday compared to their 11 million typical everyday days.
This is still not so clear as to how many shares were sold for the first time. The stocks were already down this week.
Chief Executive Dara Khosrowshashi said that Uber would expect to make a profit in 2021. This timeline gave optimism to investors. This will be based on adjustments that do not include interests, depreciation, and amortization.
Uber opened to the public in May this year and has a hard time getting investors in. Uber Eats is also one factor that concerns the markets. With the company’s losses, there had been some recon structuring done already in its operation. There were two parts of job layoffs since the IPO. This lockup has yet to prove another protest from the drivers of Uber.
Lyft, a competitor of Uber, have built their businesses through their drivers. These two companies consider these drivers as independent contractors rather than employees. This means that a contractor won’t have a minimum wage, no unemployment insurance, no paid sick leave, no overtime, and the likes. The only thing that these companies could control is paying the drivers.
Protests being held are for emphasizing the difference between investors gaining millions or billions. In contrast, drivers who work all day would get even lesser than the minimum wage as they watch their cars depreciate overtime for every distance they drive. The protesters would like the policymakers to listen to them. Make way for them to unionize.
An analyst from RBC Capital, Mark Mahaney, said that long term investors should still believe in Uber. There has been a massive increase in the market for a ride-sharing business. The lockup doesn’t affect Uber’s fundamentals, and it could even be profitable in the long-term run.
Companies that have positive stock performance can also be struggling following an IPO. Many of them rose after several months, therefore, investors shouldn’t be worried about the doom of Uber. Rest assured that there will be some post IPO gains to follow in the future.
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Business
CROWN GOOSE LAUNCHES A 6 STAR HOTEL GRAND MERCURE ROOM PACKAGE
Asia’s one of most prominent Hotelplexes, Yongsan Dragon City Hotel Grand Mercure and global luxury goose down bedding brand Crown Goose collaborate to showcase Grand Mercure Crown Goose Suite Room Package from July 20th to August 31st.
Asia’s one of most prominent Hotelplexes, Yongsan Dragon City Hotel Grand Mercure and global luxury goose down bedding brand Crown Goose collaborate to showcase Grand Mercure Crown Goose Suite Room Package from July 20th to August 31st.
Yongsan Dragon City Hotel is a part of Accor Hotel Group from France, and is the largest hotel in Korea with 1,700 rooms, 11 restaurants and bars. The hotel can accommodate up to 4,900 people. Yongsan Dragon City includes four brands: Grand Mercure, Novotel Suites, Novotel Ambassador, and ibis Styles Ambassador.
Crown Goose Suite Room Package is located in Grand Mercure, known as a 6-star hotel from the Accor Hotel Group. Grand Mercure has upto 3 bedrooms, full kitchen facility, and indoor golf course and an access to executive floor lounge.
Grand Mercure’s Crown Goose package room is decorated with royal gold color, which symbolizes success, elegance, and royal authority. This Grand Mercure Suite room displays the top 0.05% of Crown Goose clients’ favorite bedding items. The room package also includes gift box of towel sets.
Crown Goose, a global eiderdown brand has showcased “Crown Goose Room Package” in Hilton hotels before. Hilton’s ocean suite room, the highest room in Hilton accommodated a number of celebrities.
Located in the heart of Beverly Hills, Crown Goose is a goose down brand loved by the world’s top clients and super riches. Crown Goose’s recent clients included New York Manhattan Super Rich’s Residence, 15 Hudson Yards and many Beverly Hills mansions. Thanks to these facts, Crown Goose has established itself as a high-end luxury goose down comforter among the wealthy.
Business
PENINSULA Unveils World’s First Official 8K Main Trailer!
(PRESSREELS) CONTENTS PANDA(Next Entertainment World), which presents PENINSULA released the world’s first official main trailer of 8K image quality at noon (Korean time) on June 16, 2020.
Four years after ‘TRAIN TO BUSAN’, Connect with the survivors of the ‘PENINSULA’!
(PRESSREELS) CONTENTS PANDA(Next Entertainment World), which presents PENINSULA released the world’s first official main trailer of 8K image quality at noon (Korean time) on June 16, 2020. The trailer of PENINSULA, a 2020 Cannes Film Festival’s official invitation film, depicts the struggles of those who have survived in different ways for four years after TRAIN TO BUSAN.
PENINSULA is an action blockbuster depicting the last battle for survival between the people left behind in the ruins of the Korean peninsula four years after Train to Busan. The upcoming PENINSULA trailer ahead of its worldwide premiere release in the summer of 2020 is full of such big scale action sequences and explosive thrills together with fast-sounding gunfights and car-chasing scenes.
In particular, the official trailer of PENINSULA, which has 8K image quality for the first time in the world, meets the technical specifications of all digital devices and delivers a high level of visual completeness to moviegoers around the world. The 8K trailer, which is 16 times clearer than the FULL HD image quality and 4 times clearer than the 4K image quality, can be enjoyed in 8K, 4K and HD according to the device’s specifications if the 8K main trailer via the NEW’s official channel on YouTube is selected as the highest specification (4320p 8K). Especially, viewers can watch them with a perfect picture quality without an extra setup from the YouTube app on Smart TVs that support either 4K or 8K.
This super high-definition trailer was created through the collaboration of NEW’s digital business corporation NEW ID and SK TELECOM. Among the media-focused core technologies of AI-based Post Production, a joint enterprise between the two companies, the technology called Supernova is a media upscaling solution (up to 8K) to improved quality of image and sound source based on the AI’s deep learning algorithms while maintaining the quality level of the original.
Movie Information
– Title: PENINSULA
– Director: YEON Sangho (Psychokinesis | Seoul Station | Train to Busan)
– Genre: Disaster, Zombie
– Cast: GANG Dongwon (Illang: The Wolf Brigade | A Violent Prosecutor)
LEE Junghyun (Love, Again | The Battleship Island)
– World Sales: CONTENTS PANDA (NEW)
– Production: REDPETER FILMS (Birthday | Psychokinesis | Train to Busan)
– Expected Release Date: Summer 2020
– Logline: 4 years after the inexplicable disaster, they’re returning to the godforsaken land!
– Synopsis
: Jung-seok barely managed to escape from the unprecedented disaster in Korea 4 years ago and lives in exile in Hong Kong by himself. He is given a lucrative chance to return to Korea to retrieve large bags of cash left abandoned in the streets of Seoul. His mission is infiltrated ruined city of Seoul and secure the target truck before the sunrise, then return to Hong Kong unscathed. But he and his team are ambushed by a militia known as Unit 631 and vicious zombie hordes. During his desperate struggle to survive, Jung-seok experiences a moment of deus ex machina as survivor Min-jung and her family save him from brink of death. Together, they formulate one last plan to escape the peninsula for good. The prodigal son, the survivor and the deranged, their bloody battle begins!
