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.

©2019 Bloomberg L.P.