Uber goes into reverse as first day stock price disappoints ...News

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Stock traded considerably lower than $100bn the ride-hailing app had hoped to achieveUber’s hopes of a surge in the price of its shares have fallen flat, as investors gave the taxi-hailing app’s eagerly anticipated stock market float a frosty reception by sending the shares below their launch price.Uber put a price of $45 on its shares valuing the company at $80bn (£61.4bn) – well below the $100bn it had once hoped to achieve – amid jitters among investors at the lacklustre performance of shares in rival Lyft since its recent float. Continue reading...

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