Uber closes above IPO price for the first time

More than a month after ride-hailing giant Uber Technologies Inc.

made its public debut, the company's stock finally closed above its initial-public-offering price. Shares jumped 6.2% in Thursday's session, ending at $45.13. Uber priced its offering at $45 a share in mid-May, raising $8.1 billion through the deal. Prior to Thursday, Uber's highest close had been exactly at its IPO price, on June 5. The 6.2% gain in Thursday trading marked the second-largest single-day percentage increase for Uber's stock since the IPO. The shares gained 7.

hasn't fared as well as Uber in terms of price movement since its late-March IPO. Lyft shares haven't closed above their IPO price of $72 since early April. Uber's stock has risen 8.7% over the past month, while Lyft shares have gained 14% and the S&P 500 SPX, +0.38% has ticked up 3.5%.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

First IPO on China’s Nasdaq-Style Tech Board Sparks a Small FrenzyChina’s latest experiment with a Nasdaq-like listing venue for homegrown technology companies got a boost this week, after the first initial public offering of an electrical-equipment maker drew hordes of investors. IFB TOYOGUAJARDO Normal and fine central planning used to be negative words. 😉
Source: WSJ - 🏆 98. / 63 Read more »

Swiss Re's ReAssure valued at up to $4.2 billion in IPOUK life assurance business ReAssure will be valued at up to 3.3 billion pounds (... 'Bank of America will no longer do business with companies that run detention centers'
Source: Reuters - 🏆 2. / 97 Read more »

Former Hong Kong Exchange Official Arrested in IPO Graft ProbeHong Kong’s anticorruption watchdog arrested a former high-ranking official at the city’s stock exchange for allegedly rigging the approval system for companies applying to go public.
Source: WSJ - 🏆 98. / 63 Read more »