Vanguard Joins Funds Cutting Uber Share Price by as Much as 15%
- T. Rowe Price and BlackRock also reduce Uber valuations
- Ride-hailing Uber faces lawsuits and boardroom strife
Gauging Investor Appetite for Uber Shares
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Vanguard Group and T. Rowe Price Group Inc. marked down the value of their shares of Uber Technologies Inc. by as much as 15 percent following a drumbeat of bad news, lawsuits and boardroom battles at the ride-hailing company.
Vanguard cut the worth of the shares by 15 percent to $41.46 as of June 30 from the prior quarter, according to filings. T. Rowe Price reduced its valuation by about 12 percent to $42.70. BlackRock Inc., the world’s largest asset manager, shaved its estimate less than 1 percent to $53.88 as of June 30 from two months earlier.