Uber prices IPO

Local News
Uber_IPO_71499-159532.jpg73996985

FILE – This March 20, 2018, file photo shows the Uber app on an iPad in Baltimore. Uber is providing a look under the hood of its business in the lead-up to its hotly anticipated debut on the stock market. Documents released Thursday, April 11, 2019, offered the most detailed view of the world’s largest […]

By CATHY BUSSEWITZ and MICHAEL LIEDTKE AP Business Writers

Uber is about to embark on a wild ride on Wall Street with the biggest and most hotly debated IPO in years.

The world’s leading ride-hailing service set the stage for its long-awaited arrival on the stock market by pricing its initial public offering at $45 per share Thursday.

The price is at the lower end of its targeted range of $44 to $50 per share. The pricing may have been driven by the escalating doubts about Uber’s ability to make money since its main rival, Lyft, went public six weeks ago and continues to see its stock drop.

Even at the tamped-down price, Uber now has a market value of $82 billion — significantly more than century-old automakers General Motors and Ford Motor.

Copyright 2021 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Latest News

More Local News