Uber Technologies Inc's shares fell as much as 10% on Monday, more than dou...
- Uber Technologies Inc’s shares fell as much as 10% on Monday, more than doubling their losses since the ride-hailing giant’s poorly received Wall Street debut on Friday and raising more questions about investors’ faith in its ability to make profits.
The stock hit a low of $37.17, valuing the company at about $12 billion less than the IPO price of $45. Shares of smaller rival Lyft Inc, which went public at $72 a share on March 29, was down 5.3% at $48.35. While both companies are trying to find ways to lower driver costs to become profitable, drivers went on a protest in several U.S. cities earlier this month demanding job security, livable incomes and a cap on the amount ride-hailing companies can collect from fares.
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Uber Technologies Inc.Uber Technologies Inc. stock price, stock quotes and financial overviews from MarketWatch.
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