Google (NASDAQ:GOOG), Uber Bet on Lime
Uber made a move into electric scooters Monday, as the ride-service giant agreed to a strategic partnership with Lime, one of the major players in the fast-growing segment.
Lime announced the new $335 million investment to be led by GV — formerly Google Ventures — with additional funding from Google parent Alphabet and others including Uber.
Uber will make “a sizable investment,” according to Lime co-founder and chief executive Toby Sun, and will enter into a partnership allowing users to rent scooters directly from the Uber app.
“The new funds will give us the ability to expand our operations globally, develop new technologies and products for consumers and build out our infrastructure and team,” Sun said in a blog post.
“Uber will work with us as a strategic partner in the electric scooter space to offer people a greater variety of transportation modes at their fingertips and make it increasingly easy to live without a car.”
Sun said the agreement will allow for co-branded scooters which will be available in the Uber app.
Uber recently acquired the electric bike startup Jump and allowed users to choose two-wheelers as it moves to expand its role in transport beyond ride-hailing.
Its rival Lyft, meanwhile, acquired the bike-sharing group Motivate as part of a similar strategy.
Lime offers electric scooters in about 70 cities in the US and Europe, with a launch last month in Paris.
Scooter sharing has been gaining traction for short-distance transport in cities. Proponents claim the electric two-wheelers can be an alternative to the automobile.
The trend has led to a frenzy of investment in scooter startups, with Lime and Bird reportedly reaching valuations of more than $1 billion.
The new Lime investors include IVP, Atomico and Fidelity Management and Research Company, joining existing investors Andreessen Horowitz, Coatue, Fifth Wall and the Singapore sovereign wealth fund GIC.
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
The projected upper bound is: 1,198.08.
The projected lower bound is: 1,114.58.
The projected closing price is: 1,156.33.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 29 white candles and 21 black candles for a net of 8 white candles.
A rising window occurred (where the top of the previous shadow is below the bottom of the current shadow). This usually implies a continuation of a bullish trend. There have been 5 rising windows in the last 50 candles–this makes the current rising window even more bullish.
Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 91.3812. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 5 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 59.14. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 13 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 56. This is not a topping or bottoming area. The last signal was a buy 5 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 9 period(s) ago.
Rex Takasugi – TD Profile
ALPHABET INC C closed up 13.880 at 1,154.050. Volume was 48% below average (neutral) and Bollinger Bands were 30% narrower than normal.
Open High Low Close Volume___
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 1,122.60 1,102.21 1,064.22
Volatility: 29 24 29
Volume: 1,227,006 1,442,239 1,610,333
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
ALPHABET INC C gapped up today (bullish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
ALPHABET INC C is currently 8.4% above its 200-period moving average and is in an downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of GOOG.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on GOOG.O and have had this outlook for the last 6 periods.