Uber Technologies Inc. — one of the most hotly anticipated IPOs of 2019 — produced an unusual woeful stock performance on Friday for a company of its magnitude.
By at least one measure, the initial public offering was the fifth weakest one-day return of a company with a value of at least $10 billion of the past 24 years, according to data from Dealogic.
Uber’s stock UBER, -7.62% finished Friday trade off 7.6% at $41.57, giving it a valuation of $69.71 billion, according to FactSet data, after pricing its shares the day before its official public debut at $45.
Read more: 5 things you need to know about the Uber IPO
The first-day skid puts Uber’s return better than only four other companies sized at least $10 billion: ADT Inc. ADT, +0.31% which raised about $1.5 billion on January of 2018 but booked a first-day slide of 11.5%; and U.S. listed shares of Chinese company IQIYI Inc. IQ, -2.56% described as the Netflix Inc. NFLX, -0.47% of China — which saw its shares close off 13.6% in its debut.
https://www.marketwatch.com/story/u...st-quarter-century-by-this-measure-2019-05-10
