Uber Technologies Chief Executive Dara Khosrowshahi said on Tuesday the company&...
WASHINGTON/NEW YORK - Uber Technologies Chief Executive Dara Khosrowshahi said on Tuesday the company’s initial public offering last month was hurt by U.S. trade tensions even as he downplayed recent volatility in the stock price.
Uber priced shares in its IPO toward the bottom of its target range at $45 and the stock ended its first day of trading on May 10 down 7.6% at $41.57, even as the S&P 500 reversed losses to end in positive territory. Employees “have a six-month lockup so nobody in the company cares anyway what the stock prices is now - it’s a bunch of traders,” said Khosrowshahi. “It doesn’t really affect us... We work on building a great enterprise - the market will take care of itself,” he added.
Khosrowshahi also has the option to buy potentially hundreds of thousands of shares in the ride-hailing firm at a price well below where the company went public, according to a regulatory filing for Uber’s IPO. Uber first granted the options on Sept. 5, 2017 with an exercise price of $41.65 per share but this was changed on May 8, 2018, according to the filing. The details were reported earlier on Tuesday by The Information.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Slack Projects 50% Revenue Growth in Current YearWith its IPO expected later this month, Slack Technologies said it expected revenue to increase by as much as 50% this fiscal year.
Weiterlesen »
Stocks making the biggest moves premarket: United Tech, Raytheon, Salesforce, Tilray, Uber & moreThese are the stocks posting the largest moves before the bell.
Weiterlesen »
China’s pharma shake-up wins healthy endorsementDrugmaker Hansoh is valued at $10 bln after pricing shares at the top of the range in its Hong Kong IPO, backed by high quality investors. It looks like an early beneficiary of Beijing’s radical price reforms which favour diversified giants and will knock out low-quality rivals.
Weiterlesen »
Amazon Ends Restaurant Delivery in Face of Fierce CompetitionAmazon.com is shuttering its restaurant delivery service Amazon Restaurants in the U.S., putting an end to a four-year experiment that sought to compete with the likes of Grubhub and Uber Eats but failed to gain much traction.
Weiterlesen »
Deadly New York Helicopter Crash Should Serve As A Warning For The Hordes Working On Electric Air TaxisThere remain enormous technical and regulatory hurdles to the introduction of electric-powered vertical takeoff and landing aircraft in cities, as Uber is pushing for. Monday's crash in New York is a warning to pump the brakes.
Weiterlesen »