Uber shares in negative territory in the early days of trading


Uber is having a terrible first day as a public company as its shares slipping into a negative territory in the early days of trading.

This is very unusual, especially for a high-profile tech company. Shares of driver-hauling rivals lifted 21 percent at one point during its first public offering in late March. But that company had a rough drive since it fell almost 30 per cent since it was debuted.

Some analysts pointed to volatile market conditions over the past few weeks, and Friday as well. All major US There. Markets are declining, falling three per cent or more this week.

SharesPoint chief analyst Allegandy Ortiz said that the timing for Uber trading to begin was bad with the uncertainty over the trade spat with China. He said that if you saw the value of the uber at its price of $ 45, then it would be worth it. There has been no change in the last 48 hours.

Despite his firm's rocky stock market debut, Uber CEO Dara Hosrovashahi says he's thrilled to complete his business & # 39; It's IPO and didn't consider postponing the data.

Posted on Friday It was a hard week to go public, but the company got it done.

He stressed that Uber is not a beautiful-weather company and continues to move forward in harsh and easy environments. He added that the $ 8 billion uber is critical to the company's future growth plans, and called it a great moment for Uber and its employees who work so hard.

However, it is unusual for a company with such a high profile to stumble out of the gate. Uber raised almost $ 25 billion in 23 rounds of financing before going public.

Matt Kennedy, a central emerging market strategist in Renaissance capital, says over the past five years, only 10 percent of US dollars have been sold. There. Technology companies backed by venture capital finished their first day of trading below their yoo cost.

Facebook debuted in 2012, with additional technical difficulties delaying its start to trading, ending its first day with only 23 cents above its $ 38 IPO. Kennedy shows that unlike Facebook, however, Uber has not been turning profits.

Uber's stock is trading at about three percent lower than its IPO price on Friday afternoon.

The IPO came in at the lower end of Uber's targeted price range from $ 44 to $ 50 per share. Even at the tamped-down price, Uber now has a market value of $ 82 billion – five times more than lifts.

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