Uber Technologies Inc shares fell as much as 10% on Monday, doubling losses sinc...
- Uber Technologies Inc shares fell as much as 10% on Monday, doubling losses since its poorly-received Wall Street debut on Friday and raising more questions about investors’ faith in its ability to make profits.
Before going public, Uber lowered its valuation expectations twice in two months to address investor concerns over the company’s mounting losses, and priced its initial public offering at the low end of the targeted range. “The current narrative relating to the social economic nature of the ride-hailing segment is negatively having an impact on the shares of both UBER and LYFT,” said Zephirin Group analyst Lenny Zephirin.
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