Uber chief executive laments U.S. trade policy for lackluster IPO
By Editor - Tue Jun 11, 11:36 am
WASHINGTON/NEW YORK (Reuters) – Uber Technologies Chief Executive Dara Khosrowshahi said on Tuesday the company’s initial public offering last month was hurt by U.S. trade tensions even as he downplayed recent volatility in the stock price. The comments from Khosrowshahi continue the fallout from Uber’s IPO, which was the most anticipated U.S. listing since Facebook Inc seven years ago but has struggled since going public. Uber priced shares in its IPO toward the bottom of its target range at $45 and the stock ended its first day of trading on May 10 down 7.6% at $41.57, even as the S&P 500 reversed losses to end in positive territory.
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