Uber - Propping up the stock, How long can it last?
Uber Stock Slides in Disappointing Trading Debut. Propping up the stock, How long can it last?
Uber tumbled below its initial public offering price on Friday, a disappointing start for one of the most hotly anticipated debuts in years and one that’s sure to raise concerns for other money-losing start-ups poised to list their shares.
The ride-hailing firm’s shares opened at $42, almost 7 percent below the I.P.O. price of $45. Uber’s I.P.O. valuation of $82.4 billion makes the company one of the most valuable to go public in the United States, but was less lofty than had been anticipated before it began pitching its shares to investors.
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