University of Floridas Warrington College

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Uber had the worst first-day dollar loss ever of any US IPO

Uber started trading on Friday in an initial public offering that valued the company at $75.5 billion. By the end of day Friday, the stock was trading down 6.7% off the $45 a share, where the company had priced on Thursday night. With a cumulative loss of $655 million, it’s the worst first-day dollar loss…