Shares of Uber fell more than 7% on its first day of trading, marking a rocky Wall Street debut for a company that endured plenty of bumps on its long road to going public.
New York For nearly two years, Uber raced to rebuild its executive bench, overhaul its internal culture and repair its tarnished brand after suffering a long list of PR crises, all with the stated intention of being ready to go public in 2019.
But that wasn't enough to guarantee investor enthusiasm on Wall Street.Shares of Uber fell more than 7% on its first day of trading Friday, marking a rocky Wall Street debut for a company that endured plenty of bumps on its long road to going public. Uber opened at $42 a share, below its IPO price of $45, and ended the day even lower at $41.57.That disappointing first day performance sets Uber apart from the vast majority of its tech peers.
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