Uber began trading on the New York Stock Exchange Friday at $42 per share, below its IPO price of $45. The stock was down as much as 8% toward the start of trading.
Uber is now the second ride-hailing company to hit the U.S. public market, following Lyft's debut in March. Both companies have been heavily scrutinized for continuing to post big losses, but many investors are also intrigued by the entrance of the new industry onto the public exchange. As Uber began its first day of trading, Lyft's stock was down as much as 9%.
Like Lyft, Khosrowshahi said 2019 should be the company's peak year for losses. Uber has been comparing itself to Amazon in its pitches to investors, which also infamously was not profitable at its IPO. While some analysts are dubious of the comparison, they also recognize investors' fear of missing out on the next big thing. In his CNBC interview, Khosrowshahi said he stands behind the comparison despite the differences between the two companies at their IPO.
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$Uber buys cars from Tesla to operate a driverless network- the year is 2023 bitcoin used as payment. Satisfied customers get audiobooks read to them on the ride with PrimeVideo
Calm down. They are not übermensch l
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