Skip to content
Subscriber Only

Uber's IPO Flop Is Coming to an ETF Near You After Its 16% Slump

  • Fund focused on new offerings plans to add company this week
  • The ride sharer’s stock rose Tuesday after sliding from debut
Trading On The Floor Of NYSE As Uber Releases IPO
Photographer: Michael Nagle/Bloomberg

Investors betting that the bad times are over for Uber Technologies Inc. after a dismal trading debut will soon be able to express their views through an exchange-traded fund.

The $40 million Renaissance IPO ETF, known by its ticker IPO, plans to add Uber to its holdings on May 17, according to a statement from Renaissance Capital. While new companies are typically included at scheduled quarterly reviews, the fund can buy firms with at least $100 million of market capitalization as soon as five days after they start trading, said Kathleen Smith, manager of the fund.The ETF already owns Lyft Inc.