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Uber plunges again – reach about 17% below IPO price



Shares of Uber ( UBER ) fell more than 10% in late morning trading after a gloomy debut Friday. The stock is now down at around 17% from the original public offer price of $ 45.
Uber faces a lot of skepticism about the ability to make money at any time when fighting with rival Lift ( ] LIFT for market share in the United States.

Lift, published in March, has also been a Wall Street dud. This stock fell 6% Monday and is now down more than 33% from the IPO price.

Uber's epic release is also bad news for some of the best investors who bought bets in the company relatively late in the game.

  Ubers first investors open up for their wild trip

The company increased about $ 6.8 billion by sell nearly 140 million shares between December 2015 and February 2017 at a price of $ 48.77 per share, including a sale of about 71.8 million shares to Saudi Arabia's public investment fund.

The effort, worth $ 3.5 billion at the time, is now valued at around $ 2.7 billion.

Japanese tech investing giant SoftBank is the largest investor in Uber. It owns almost 13% of the company through SoftBank Vision Fund. Softbank's shares fell more than 3% in Tokyo Monday after Friday's downturn in the uber price.

SoftBank also has investments in several other so-called unicorns that could be close to public, including Slack, WeWork and DoorDash. Wall Street is suddenly despised for losing money – Lift has also dropped dramatically from its IPO price – may be bad news for SoftBank.

And shares by Google owns Alphabet ( GOOGL ) who owns a 5% stake in Uber, was down 3% on Monday.

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