Uber loses $2 billion in market cap as IPO lockup period ends

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Uber's lockup on selling stock after its May IPO expired Wednesday, flooding the market place with shares in the troubled startup which lost $2 billion in market capitalization overnight.

The lockup preventing early investors from selling their shares in Uber after its initial public offering expired Wednesday. Early investors and employees had bought their stock at $45 and the May IPO had a market valuation of $82 billion.

 

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