Uber shares are worth less after the first trading day than when they opened

The price of Uber shares fell by more than six percent immediately after the company’s IPO. The opening price was $42, about three dollars lower than the initial introductory price.

In total, the company now has a valuation of 72 billion dollars, converted about 64 billion euros. Uber Technologies’ IPO is one of the largest in US history. Only a handful of companies were worth more when they went public.

Uber made the share available for $45, which is just over forty euros. That is already lower than many analysts expected; they initially valued the company at $120 billion. The shares are now being sold for even less than when the stock exchange opened.

Investors have been waiting for Uber to go public for years. The company has been around since 2009 but has always been private, and is still not making a profit. The company incurs billions in losses every year; in 2018 it was 2.8 billion euros. Nevertheless, analysts expected a lot from the IPO. A possible reason for the unexpectedly low price is the fact that competitor Lyft went public two months ago, but the value fell by almost a third.