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WORLDVIEW: Uber IPO suggests ride hailing is a rubbish business
Uber was supposed to be the IPO of the century, but after a few brutal days on the stock market, the company was down 20% from its best-case IPO price.
By Felicity DuncanÂ
Uber was supposed to be the IPO of the century. At the end of last year, talking heads were confidently predicting it would list at $48-$50 a share, with a valuation of between $90 and $100bn.
But by the time the IPO officially priced, it was down to $45 a share, for a valuation of $82bn. After a couple of brutal days on the stock market, the company was down to just under $40 a share – and that's after the stock recovered from its Tuesday low of $36.
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