Uber's stock begins trading at nearly 7% discount to IPO price
, which was set to kick off trade Friday morning, after pricing at $45 late Thursday. On the economic front, consumer prices rose by 0.3% in April, below the 0.4% level expected by economists, according to a MarketWatch survey of economists.by Jeanette SettembreMay. 10, 2019 at 7:19 a.m. ETby Emily Baryby Andrew KeshnerUber shares opened at $42 on the New York Stock Exchange, 6.7% below the ride-hailing service’s IPO price of $45, a rare setback for a high-profile debut.
Despite the tough economy, startups such as Uber, Pinterest and Airbnb benefited from scrappy entrepreneurs as well as the rise of the smartphone and cloud computing.Uber priced its initial public offering at $45 a share, near the low end of its expected range as the ride-hailing giant grapples with choppy markets and the disappointing debut of its chief rival.
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