The IPO was over-subscribed, but Uber settled for a lower price to avoid a repeat of Lyft’s IPO which priced strongly, began trading up, then plunged
Screens display the Uber Technologies logo at the New York Stock Exchange during the company’s IPO in New York May 10 2019. Picture: REUTERS/ANDREW KELLY
The IPO was over-subscribed, but Uber settled for a lower price to avoid a repeat of Lyft’s IPO in late March, which priced strongly, began trading up, then plunged. The IPO was also set against a backdrop of a spike in tensions between the US and China, which renewed fears of a global economic slowdown and hampered global markets.
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