Investors have been massively wrong before on all kinds of things which has led to market crashes. So the fact that some investors believe Uber will become a strong, profitable business in the foreseeable future doesn't count for much.
The market is not perfectly rational. It's vulnerable to hype and there's a lot of money to be made by exploiting that hype and selling before the bubble bursts.
The market is not perfectly rational. It's vulnerable to hype and there's a lot of money to be made by exploiting that hype and selling before the bubble bursts.