uber shares sink on stock market debut - sink on wall

by:KEDIBO     2019-09-02
uber shares sink on stock market debut  -  sink on wall
Uber shares fell to close.
As much-anticipated stock market listings failed to win investors, they fell 6% on the first day of trading.
Boss Dara Khosrowshahi is one of those who started trading on the New York Stock Exchange.
By the end of the meeting, the stock price was $41.
51 below the company's $45 listing price.
On Thursday, Uber sold 0. 18 billion shares at $45 a share, raising $8.
1bn cash, worth $82 (£63bn).
Shares of Ride began to be volatile, trading at $42, down to $41. 06 early on.
Uber has not yet made a profit and recently warned that it may never make a profit.
Since its inception in 2009, the company has lost about $ 9bn.
Mr. Khosrowshahi tried to reassure investors that they were disappointed that their share price fell when they first went public. "My reaction (
Share price)
If we build well, shareholders will be rewarded.
"Of course we don't have a day to measure our success, which is really something for years," says Khosrowshahi . ".
Uber originally suggested a price range of $44-
Shares traded at $50 and the company is valued at $ 120bn.
Mr. Khosrowshahi said $45. a-
The uncertainty of the global economic environment affects the floating of stock prices.
After Facebook's most anticipated US listing in May 2012, shares will now be traded in UBER's name. Uber co-
Founder Travis Kalanick left the CEO post after the company's employee culture issue was raised to make way for hosrosshahi, who also attended
As Uber diversify into several other industries, investors are betting on the growth prospects of Uber.
And the original ride-
Uber is developing driverless cars and delivering meals.
Michelle FleuryUber's share price fell sharply on the first day as a listed company.
Of course, the real test will not come on a trading day, but on the performance of the next few weeks.
The country's biggest stock market debut in five years has raised questions about how companies like Uber should price initial public offerings.
This is a special challenge for losing tech startups. ups.
Shares of Uber's main rival, Lyft, have been disappointing since it went public.
To avoid this fate, Uber's underwriters have priced the stock at the low end of $44 --50 price range.
But that may not be conservative enough.
There is no doubt that companies like WeWork and Slack will take notes as they prepare to go public in the coming weeks.
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