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Uber Technologies Inc’s shares fell nearly 9% in their New York Stock Exchange debut on Friday, marking a rocky start for one of the most high-profile U.S. companies to go public since Facebook Inc seven years ago.

The fall in shares undermined Uber’s strategy of pricing its oversubscribed IPO conservatively at $45 per share to avoid a repeat of rival Lyft Inc’s stock market struggles following a strong debut in March.

Uber’s shares opened at $42 and touched a low of $41.06 in early trading be

Continue reading Uber stock drops in rocky debut

Uber stock drops in rocky debut originally appeared on Autoblog on Fri, 10 May 2019 14:45:00 EDT. Please see our terms for use of feeds.

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