Uber goes on bumpy Wall Street ride

National News

May 10, 2019 - 3:55 PM

NEW YORK (AP) — Uber began trading as a public company at $42 per share Friday, nearly 7% below its initial public offering price on an already volatile day for the markets.

The ride-hailing giant priced shares in the IPO Thursday at $45 each, raising $8.1 billion and giving the company a valuation of $82 billion.

Shares began publicly trading on the New York Stock Exchange about 2 1/2 hours after the markets opened Friday, with investors already feeling jittery over an escalating trade dispute with China.

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