Uber's market value slips below GM's for the first time since its IPO

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Uber's stock price has fallen more than 26% since its IPO in May as public-market investors express concerns about its cash-burning business model.

Shares of Uber traded as much as 3.7% lower on Friday, sending the company's market value sliding below General Motor's for the first time since its initial public offering. The ride-hailing giant's market value sat at $52.3 billion on Friday afternoon, compared to General Motor's $53.1 billion. Uber's stock has fallen more than 26% since the company went public in May at $45 a share. Visit the Business Insider homepage for more stories.

Shares of Uber traded as much as 3.7% lower on Friday, sending the company's market value sliding below General Motor's for the first time since its initial public offering. The ride-hailing giant's market value sat at $52.3 billion on Friday afternoon, compared to General Motor's $53.1 billion. Uber's stock has fallen more than 26% since the company went public in May at $45 a share. Visit the Business Insider homepage for more stories.

 

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