Author: Wolf Richter

Uber Lost $3 Billion on $3.5 Billion in Revenues. Fake “Profitability” Delayed. Another Quarterly Horror-Show. Markets Eat it Up

Uber Lost $3 Billion on $3.5 Billion in Revenues. Fake “Profitability” Delayed. Another Quarterly Horror-Show. Markets Eat it Up from Wolf Street This hoped-for fake “profitability” isn’t profitability, but “Adjusted EBITDA,” Uber’s own homemade creature. By Wolf Richter for WOLF STREET. Uber –...

The ISM Non-Manufacturing Business Activity Index Shows to What Unfathomable Extent the US Economy Has Collapsed

The ISM Non-Manufacturing Business Activity Index Shows to What Unfathomable Extent the US Economy Has Collapsed But delivery times explode due to supply chain turmoil. The charts are brutal. By Wolf Richter for WOLF STREET. Business activity and production at US non-manufacturing industries...

Used-Vehicle Wholesale Volume Collapsed, Prices Drop: Mega-Pain for Automakers, Leasing Companies, Rental-Car Companies, Banks, Bondholders, Stockholders

Used-Vehicle Wholesale Volume Collapsed, Prices Drop: Mega-Pain for Automakers, Leasing Companies, Rental-Car Companies, Banks, Bondholders, Stockholders from Wolf Street No one has ever seen a mess like this before. By Wolf Richter for WOLF STREET. The used-vehicle wholesale market is normally very liquid....

Postmortem of the Infamous Day WTI Crude Oil Futures Went to Heck in a Straight Line

Postmortem of the Infamous Day WTI Crude Oil Futures Went to Heck in a Straight Line from Wolf Street The US Energy Information Agency (EIA) dissects the historic event. “It’s not often that we’re served up a WTF moment like...

Housing Market under COVID-19: Regular Folks Retreat, Foreign Investors Blocked, Large US Investors Gone, iBuyers Frozen

Housing Market under COVID-19: Regular Folks Retreat, Foreign Investors Blocked, Large US Investors Gone, iBuyers Frozen from Wolf Street Demand is a lot weaker in some places than in others. By Wolf Richter for WOLF STREET. Mortgage applications to purchase a home in...