Yes, but if their profits stayed consistent at current rates the stock price would be quite high compared to other companies. It's price-to-earnings ratio is 408, meaning it would take 408 years for it to buy all its outstanding stock just from earnings. By contrast Ford's is 16 and Alphabet's (Google's) is 29.

The 408 ratio is justified by the assumption that earnings will be a lot higher in coming decades.

Not a financial advisor, not financial advice, this is merely a thought experiment.

Uber will survive as long as there are investors willing to believe they might be profitable, eventually. Once the consensus or shared belief turns, I believe they’ll face significant challenges raising capital in the market.

But isn't there just a little bit of truth behind each meme?

I mean, all I'm saying is, that there's a reason Tesla is a meme stock.