Uber Rings NYSE Bell, Watches Stock Slide Below Offering Price
- Disappointment despite efforts to price opening conservatively
- Hopes for celebration dashed at largest IPO in five years
Pedestrians pass in front of the New York Stock Exchange during Uber’s IPO on May 10.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
It was the largest public offering in five years, since Alibaba, and for all of Uber’s pre-bell preparations, company executives were still nervous.
“Waiting for the first trade,” Dara Khosrowshahi, Uber Technologies Inc.’s chief executive officer, tweeted out at 11:18 a.m. with an emoji of a butterfly and the word “stomach.”