A not-so-free ride

Uber is a remarkable business, but the shares aren’t cheap. In fact, it could be hard to hail an excellent return from here.

It's been a bumpy ride for Uber investors since the company's initial public offering in 2019. The share price has bounced up and around. Returns have been lacklustre. Until October last year, shareholders had made a meagre 2% return, lagging the Nasdaq composite index by 65 percentage points. Ouch!