Uber Technologies Inc.’s tough times as a public company are continuing Monday, with the stock at risk of posting its lowest close ever just a few days after...
Uber Technologies Inc.’s tough times as a public company continued Monday, with the stock at risk of posting its lowest close ever.
Shares in rival Lyft Inc. LYFT, -4.65% were falling as well Monday, down as much as 5.6% in the morning trading session on track for their second-straight day of declines. The two stocks have managed to close higher than their IPO prices in just two sessions apiece so far. A day earlier, Uber posted a staggering $5.2 billion loss, driven mostly by stock-compensation expenses, though some analysts were encouraged by “tantalizing clues” suggesting that Uber’s core ride-hailing business is somewhat close to breaking even.There haven’t been too many happy moments for Uber and rival Lyft since the companies went public earlier in the year, but one came last week when Lyft delivered its own report and disclosed that the price war with Uber was easing.
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