A first for Uber: Stock finally closes above the $45 IPO price
More than a month after ride-hailing giant Uber Technologies Inc.
made its public debut, the company's stock finally closed above its initial-public-offering price. Shares jumped 6.2% in Thursday's session, ending at $45.13. Uber priced its offering at $45 a share in mid-May, raising $8.1 billion through the deal. Prior to Thursday, Uber's highest close had been exactly at its IPO price, on June 5. The 6.2% gain in Thursday trading marked the second-largest single-day percentage increase for Uber's stock since the IPO. The shares gained 7.
hasn't fared as well as Uber in terms of price movement since its late-March IPO. Lyft shares haven't closed above their IPO price of $72 since early April. Uber's stock has risen 8.7% over the past month, while Lyft shares have gained 14% and the S&P 500 SPX, +0.38% has ticked up 3.5%.
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