The fad is over. Trouble BrewingFollowing the worst IPO in history, and subsequent failure to lead a legal and profitable business, on March 4th (less than two weeks) Will Shu's "golden shares" will lose their status. Eager investors will be keen to cut fees paid to riders and increase charges to restaurants and customers, only to find that they have already pushed all of their partners to the limit, and they still can't turn a profit.
Investing in this company now, you have to bear in mind the potentially illegal aspects of the business that Will Shu-reley be addressed soon. That is the illegal e-bikes, and the illegal immigrants. This is not a controversial statement. Without the speed of these bikes, or the kind of employees that have to accept sub-minimum wage pay, this business model is kaput.
Of course, we all know, the story is told in the charts, and we have a bear flag with rsi divergences. Low levels of customer satisfaction. Run by a skeleton crew in the Philippines, with an app that hasn't seen any meaningful development in years. This is no Amazon, this serial loss of investor money and debt is not going to turn into a global megacap, sorry...
