Uber shares fall for a second day, placing them 18% below the ride-hailing giant’s IPO price of $45
Uber Technologies Inc.’s stock dropped sharply Monday, marking another setback for the highest-profile company to go public in years and threatening to cast a chill over what had been a red-hot IPO market.
Uber’s stock slid $4.47, or 11%, to $37.10 on its second day as a public company, placing it 18% below the ride-hailing giant’s initial-public-offering price of $45. That is after Uber’s valuation expectations were dialed back in recent weeks and the company priced its IPO conservatively, in its view.
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