Mexican Media Brands
Uber Shares Drop Another 11%
Shares in ride-hailing service Uber Technologies Inc. shrank another 11% on Monday, their second day of public trading.
#economics
Share
Shares in ride-hailing service Uber Technologies Inc. shrank another 11% on Monday, their second day of public trading.
Uber began trading on Friday at $45 but closed on Monday at $37.10. The slump erased $20 billion in Uber’s market value, dropping it to about $68 billion.
Uber wasn’t alone. Lyft Inc., Uber’s largest rival in the U.S., saw its stock price slide 8% on Monday. Lyft’s shares have lost one-third of their value since the company’s initial public offering on March 29.
RELATED CONTENT
-
On Fuel Cells, Battery Enclosures, and Lucid Air
A skateboard for fuel cells, building a better battery enclosure, what ADAS does, a big engine for boats, the curious case of lean production, what drivers think, and why Lucid is remarkable
-
Things to Know About Cam Grinding
By James Gaffney, Product Engineer, Precision Grinding and Patrick D. Redington, Manager, Precision Grinding Business Unit, Norton Company (Worcester, MA)
-
Plastics: The Tortoise and the Hare
Plastic may not be in the news as much as some automotive materials these days, but its gram-by-gram assimilation could accelerate dramatically.
