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

  • 📰 Daily Mail Online
  • ⏱ Reading Time:
  • 1 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 4%
  • Publisher: 51%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 135. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

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

Fitbit users fear privacy invasion after $2.1bn Google acquisitionFitbit says data of its 28 million users will not be sold or used for Google ads Now they fear privacy invasion? Their phones and computers have been eavesdropping for years! Put it on the dog! 🤭 Fitbit users fear privacy invasion after $2.1bn Google acquisition Privacy till it gets hacked Fitbit users fear privacy invasion after $2.1bn Google acquisition Privacy till it gets hacked
Source: The Guardian - 🏆 84. / 53 Read more »