Data Sheet—What the Glow of Wall Street’s Mood Ring Says About Uber’s IPO

The word is that Uber has lowered its hoped-for valuation in its coming initial public offering to as low as $80 billion. That's compared with the last guesstimated level of $100 billion and below the $120 billion its bankers previously hoped it would fetch. Oh, and there's also news that PayPal will invest $500 million in Uber at its IPO price.

All this is quite interesting in the same way opinion polls are interesting in the time leading up to elections. The shifting valuations are like mood rings. Lowering valuations: bad! New, impressive backers: good!

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