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Uber stock exchange flops on the first day



Uber's transition to becoming a listed company lands with a spout, but it's not the first to experience it, not even this week.

However, it is unusual for a company with such a high profile to stumble

. Uber's shares began trading around US $ 2 (NZ $ 3.03) during the first public offer. US $ 45 price.

On the closing Friday, it was $ 41.57, down 7.6 percent.

Uber increased nearly $ 25 billion in 23 rounds Financing before publication.

Matt Kennedy, senior market doctor at Renaissance Capital, says that over the past five years, only 1

0 percent of US technology companies supported by venture capital have finished their first trading day under the IPO award.

Facebook debuted in 2012, and after technically difficult I have delayed its start of trading, and finished its first day only 23 cents above the IPO price of US $ 38.

  Uber has become a listed company. Photo / Getty Images.
Uber has become a listed company. Photo / Getty Images.

Kennedy points out that unlike Facebook, Uber has not won profits.

After falling close to 9 percent on Friday, shares in Uber Technologies Inc. are down below 1 percent.

It is very unusual, especially for a high profile technical company like Uber. Shares in rival rival Lift increased 21 percent at one point during the first public offer at the end of March. But the company has had a tough trip since, almost 30 percent since its debut.

Some analysts pointed to volatile market conditions in recent weeks and also Friday. All major US markets are declining, having fallen 3 percent or more this week.

Both Uber co-founders, Travis Kalanick and Garrett Camp, were present at the opening ceremony, but absent on the podium during the time.

  Uber CEO Dara Khosrowshahi (center) joins other employees by calling the opening call on the New York Stock Exchange. Photo / Getty Images.
Uber CEO Dara Khosrowshahi (center) joins other employees by calling the opening call on the New York Stock Exchange. Photo / Getty Images.

Tony West, uber chief legal officer who has been working to repair Uber's image while he was filing lawsuits all over the world, shot smartphone videos from the floor while waiting for the first deal.

The opening bill on the New York Stock Exchange was called by Austin Geidt, one of Uber's earliest employees.

She joined the company in 2010 and is now head of strategy for Ubers Advanced Technologies Group, which works with autonomous cars. She and CEO Dara Khosrowshahi joined Uber drivers from all over the world and other Uber leaders on the NYSE.

– News.com.au


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