No bang, just a whimper: Uber's market debut stalls out
Uber's conservative initial public offering couldn't keep its shares from sinking in their trading debut on Friday. According to Reuters, the company's weak debut fuelled debate on Wall Street over whether the outcome of the most anticipated listing since Facebook Inc would weigh on other Silicon Valley unicorns like Postmates and Slack. Uber picked a terrible week for its IPO, as it was plagued by market turbulence fueled by U.S.-China trade worries. Uber’s shares ended the day down 7.6% at $41.57, even as the S&P 500 reversed losses to end in positive territory. Only about a fifth of IPOs have ended their first day of trading in the red in the last two years.