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Uber Suffers Worst First Day Trading Of Any US IPO

Credit: Wochit News
Published on May 13, 2019 - Duration: 00:32s

Uber Suffers Worst First Day Trading Of Any US IPO

On Friday, Uber started trading in an initial public offering that valued the company at $75.5 billion.

By the end of day Friday, the stock was trading down 6.7% off the $45 a share, where the company had priced on Thursday night.

The IPO suffered a cumulative loss of $655 million.

Uber's IPO had the worst first-day dollar loss of a US IPO.

Uber's IPO came during a particularly turbulent week as tensions elevated between the US and China.

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