Uber Stock Finally Surpasses Its IPO Price as Stock Market Soars for Second Straight Day
Bullish analysts push the ride-sharing company stock in the right direction.
By Matthew McCreary •
Uber stock had a rough May, when it opened at $45 per share only to watch its value fall on the first day of trading. One month later, bullish analysts have helped the stock rebound, and today it rose above its IPO price for the first time (reaching $45.66 per share) before closing at $45 once more.
Related: Uber Stock Tumbles After IPO, Leading to Disappointing First Day as Public Company
The stock market was strong overall for the second straight day despite reports earlier in the week about possible Justice Department and Federal Trade Commission investigations into tech giants like Facebook, Alphabet Inc., and Amazon.
The Entrepreneur Index™ rose by 0.82 percent, keeping pace with the Dow (0.82 percent) and the S&P 500 (0.78 percent) on the day. Alphabet (-1.03 percent) and Gap Inc. (-2.59 percent) were among just 14 stocks on the index to fall.
Standouts on the day included Under Armour (4.29 percent), Brown-Forman Corp (4.48 percent) and salesforce.com (5.06 percent).
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.
