Uber Stock Tumbles After IPO, Leading to Disappointing First Day as Public Company

The ride-sharing company was valued at over $82 billion on its first day of trading.

Free Book Preview Money-Smart Solopreneur

This book gives you the essential guide for easy-to-follow tips and strategies to create more financial success.
Entrepreneur Staff
Associate Editor, Contributed Content
2 min read

Uber raised over $8 billion in its first day as a publicly traded company and still managed to fall short of expectations. The company opened its first day of trading with an initial public offering price of $45, but finished the day at $41.52 -- down 7.7 percent. According to The New York Times, "Since 2000, only 18 companies valued at more than $1 billion and listing on American exchanges have opened below their IPO price."

It's been a tough month for ride-sharing apps, given how Lyft announced losses of over $1 billion in its first quarter as a publicly traded company just days before.

 

Many of the other major players in the tech industry also had moderate losses on the day. Amazon shares fell by 9.89 points (-0.52 percent on the day), Facebook fell by 0.18 points (-0.10 percent) and Netflix fell by 1.94 points (-0.53 percent). The Entrepreneur Index™ was also down -0.10 percent on the day.

Meanwhile, the Dow index and S&P 500 rose 0.44 percent and 0.37 percent, respectively. Some of the standouts included Tyson Foods, which was up 1.87 points per share (+2.4 percent); Walmart, up 2.41 points (+2.42 percent) and Costco, up 3.43 points (+1.41 percent).

Related: Uber Is Going Public at a $75.5 Billion Valuation. Here's How That Stacks Up.

The Entrepreneur Index™ collects the top 60 publicly traded companies founded and run by entrepreneurs. The entrepreneurial spirit is a valuable asset for any business, and this index recognizes its importance, no matter how much a company has grown. These inspirational businesses can be tracked in real time on Entrepreneur.com.

More from Entrepreneur

Our Franchise Advisors are here to help you throughout the entire process of building your franchise organization!
  1. Schedule a FREE one-on-one session with a Franchise Advisor
  2. Choose one of our programs that matches your needs, budget, and timeline
  3. Launch your new franchise organization
Entrepreneur Insider members enjoy exclusive access to business resources for just $5/mo:
  • Premium articles, videos, and webinars
  • An ad-free experience
  • A weekly newsletter
  • Bonus: A FREE 1-year Entrepreneur magazine subscription delivered directly to you
Try a risk-free trial of Entrepreneur’s BIZ PLANNING PLUS powered by LivePlan for 60 days:
  • Get step-by-step guidance for writing your plan
  • Gain inspiration from 500+ sample plans
  • Utilize business and legal templates
  • And much more

Latest on Entrepreneur