This year's hot IPOs have one thing in common — they are all overpriced, according to NYU Stern professor Aswath Damodaran.
This year's hot IPOs have one thing in common — they are all overpriced, according to one reliable market valuation judge.
"All four are richly priced," Damodaran said on Tuesday on CNBC's Squawk on the Street."I'm a little scared of Uber at $100 billion. I think both Lyft and Uber are struggling with a way to convert revenue growth into profits. So you are paying $100 billion for a company that still doesn't have a viable business model. That's scary."
"The test will be when Uber goes public, whether the market gets caught up in numbers ... 91 million riders. That's a lot of people. I think all of these companies use numbers to intimidate," he said.
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