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Uber skids more than 7%, falling below $39 per share, after disappointing debut

May 13, 2019

Via: CNBC

Uber fell more than 10% to below $38 a share Monday, the first trading day after it disappointed investors in the most highly anticipated initial public offering of the year.

Uber began trading at $42 per share but dropped 7.6% on its first day on the New York Stock Exchange on Friday. It closed below $42 per share with a market cap of $69.7 billion. To be sure, the last two days have been volatile for the U.S. stock market amid a breakdown in trade talks with China. Major U.S. indexes dropped more than 2% Monday morning.

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