Subject: Re: S&P 500 hits record high
Uber shares are rallying 11% right now on management announcing plans to buy back up to $7B of stock.

They kicked out Sealed Air Corp (SEE), a company few people have heard of - it was experiencing lower revenues, and its market cap shrank to $5B. And replaced it with Uber, a global brand with $37B of revenue growing at 15% YoY.

This is another advantage you get when you invest in SPY or VOO.

Recent investors in Uber have done quite well, the stock is up over 100% in the past year. Has its value increased at the same rate? A more difficult question to answer. Certaintly SPY investors would have been better off if it had been added a year ago when it was trading in the $20s; and we can be thankful it wasn't added in April 2021 when it was at $60.

I guess time will tell if adding it at $75+ / share and a PE approaching 50x (TTM) is a good investment idea or not.

BTW: Yes revenue is growing, but earnings are still flat.

tecmo
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