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Uber Loses ‘Market Conditions’ Excuse as Stocks Turn Higher
Uber Loses ‘Market Conditions’ Excuse as Stocks Turn Higher
11 May 2019, 02:00 AM IST
(Bloomberg) -- So much for blaming the market.
(Bloomberg) -- So much for blaming the market.
The S&P 500 has jumped by nearly 2% since Uber Technologies Inc. debuted below its IPO price midday on Friday. At the time, CEO Dara Khosrowshahi and others said China trade uncertainty made for a tough day in the market.
“You can’t pick when you go public," he told Bloomberg earlier.
Other stocks have recovered from this morning’s lows. Two-thirds of the stocks in the S&P 500 are higher Friday, while both Uber and rival Lyft Inc. are still tumbling.
To contact the reporter on this story: Drew Singer in New York at dsinger28@bloomberg.net
To contact the editors responsible for this story: Courtney Dentch at cdentch1@bloomberg.net, Scott Schnipper
©2019 Bloomberg L.P.
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