Uber IPO was meant to be the biggest IPO of 2019, altogether with being announced as the biggest IPO since Alibaba (BABA) and Facebook (FB).
However, it seems that Uber initial offer after all positive predictions and a major evaluation set between 90 and 100 billion dollars, ended up disappointing investors.
While many analysts suggested that Uber IPO was a definite buy, setting the share price above Uber’s share price target between 47$ and 55$, it appears that a few skeptics who suggested that Uber might be in for a rocky ride based on Lyft (LYFT) experience.
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Uber IPO Share Price: Uber Ends Up Below the Share Price Target
At the opening sale that started on Thursday, May 9th, Uber started at the price of 45$, soon going down below the initial price and touching 41$ per share at the closing.
Many analysts expected to see Uber blooming as based on evaluation, Uber was supposed to be the biggest IPO since Facebook in 2012 and Alibaba in 2014.
Lyft had a similar destiny, Uber’s ridesharing competitor that went public at the end of March 2019, dropping from the starting share price of 72$ and ending at 51$ over the course of 5 weeks.
Uber Fails to Meet Investors’ Expectations
It appears that Beyond Meat (BYND), a company that produces meat alternatives, stole the light as the most successful IPO in 2019 by far with 163% rise in a single day.
On the other hand, Uber, the ridesharing company with many losses but with equal growth potential, went down by -7.6% since the opening sale.
Uber raised 8.1 billion dollars with their IPO in oppose to the expected 9 billion, while market capitalization of Uber now stands at 76.5 billion dollars.
Private investors evaluated the company at 76 billion, however, final evaluation for Uber was said to be set between 90 and 100 billion dollars, previously suggesting that Uber is worth at least 120 billion.
