opening price: Early trading data from Wall Street showed its shares were quickly changing hands at below the opening price in early trading, dipping about 7% to about 42 against the backdrop of a stock market suffering its fifth consecutive daily decline amid trade war fears, according to The Guardian. By the end of its first day of trading, Uber shares had dropped to 41.57, down 7.6% on its opening price, with a market cap of 69.7bn. 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. The stock continued to drop in after-hours trading. The company's chief executive, Dara Khosrowshahi, was on stage for the traditional ceremony of ringing Wall Street's famed opening bell. Despite its limp start to life as a public company, the 8.1bn that Uber raised means its stock market debut was still one of the largest in US history and the most closely-watched in the tech world since Facebook hit the market in 2012.
(news.financializer.com). As
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