Uber Loses ‘Market Conditions’ Excuse as Stocks Turn Higher
(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.
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