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Stock impact report

Uber stock slides in trading debut after IPO prices near the low end of range [MarketWatch]

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Company Research Source: MarketWatch
Uber stock slides in trading debut after IPO prices near the low end of range Uber Technologies Inc.’s shares skidded Friday in their first day of trade, after the ride-hailing giant made its public debut. The stock fell more than 7% in the session after opening at $42, representing a disappointing start for the company, which had already priced its initial public offering toward the low end of its expected range of $44 to $50 a share. Uber raised $8.1 billion in its offering at an IPO price of $45 a share. At a recent stock price of $41.57, the company had a market capitalization of almost $70 billion, based on the 1.677 million shares it had outstanding after completion of the offering. Uber’s IPO was the biggest IPO for a U.S.-based company since Facebook Inc. FB, -0.16% went public in 2012. Read more: 5 things you need to know about the Uber IPO Underwriters, led by Morgan Stanley, Goldman Sachs and BofA Merrill Lynch, have access to another 27 million shares offered by sell Show less Read more
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