An Uber Denier is in the same category as Vaccine Deniers, Evolution Deniers and Climate Change Deniers.
Deniers ignore scientific evidence that overwhelmingly proves their claims to be statistically and logically incorrect.
Deniers use non-scientific anecdotal evidence to “support” their conclusions:
>My son has autism. He was vaccinated before developing the symptoms.
>An eyeball is too complex an organ to have been created at random.
>Last month was really cold.
>I took a ride yesterday and the driver said he made less than minimum wage.
Uber Deniers commenting online for over two years have made unsubstantiated claims that Uber is less successful than ALL data and logic has proven otherwise.
Uber’s market share versus medallion taxes has relentlessly increased for the past three years.
UberX entered the for hire vehicle market in 2013 and now includes 450,000 US drivers. Uber Deniers claim these drivers are so stupid, they don’t realize after months and years of driving they’d be better off working for minimum wage at McDonald’s.
Uber Deniers claim that the medallion taxi industry has a competitive advantage over Uber, despite NO data or logic that supports this claim.
This claim convinces low information investors to lose money betting on Uber’s “failure” by buying and continuing to hold Medallion Financial (MFIN, formerly TAXI).
At the time of MFIN’s last secondary offering, it closed at $17.74 on November 29, 2013.
MFIN stock promoters constantly tout the effect of high dividend payouts on MFIN’s investor return. However, even including dividends, MFIN’s performance has been horrible since Uber’s entry into the market.
MFIN’s dividend history:
Total dividends paid out since November 29, 2013 are $2.44, yielding a price adjusted for dividends of $15.30.
The effect of Uber on the taxi medallion industry was minimal in 2013 in New York, Chicago and Boston. The devastation has been massive in the 2 ½ years since then.
MFIN’s closing price on June 14, 2016 was $7.09.
TOTAL RETURN, including dividends for MFIN has yielded a loss of 54%.
TOTAL RETURN, including dividends for the S&P 500 has yielded a gain of 21%.
Low information MFIN investors have been taken to the cleaners by misinformation.
As an example my article titled:
contains hard data, solid logic and coherent sentences.
Uber Deniers and MFIN stock promoters:
On Seeking Alpha and the Yahoo Message Board for MFIN, please provide counterarguments to this SPECIFIC article also including specific and relevant hard data, solid logic and coherent sentences.