Uber shares continue to drop after its market debut
May 13, 2019
Uber Technologies Inc made its debut on Friday, but the company has lost 7% as of Monday, doubling its losses and proving that analysts were right to doubt the company's ability to make a profit. There was a lot of uncertainty ahead of Uber's market debut, which made the company lower its target price twice in the last two months before it decided to price its shares at the low end of its price range. The 7% loss comes from new trade tensions between the US and China, making shares drop to $38.5 and shaving $11 billion off of the company's initial price of $45 at the end of last week.