Uber Sinks to New Record Low as IPO Share Lockup Expires

(Bloomberg) — A large stake in Uber Technologies Inc. changed hands before the market opened on Wednesday, a person familiar with the matter said, as post-IPO selling restrictions lift for early investors and insiders.Goldman Sachs sold about 2 million shares on behalf of an unknown selling holder at $26.90 each, a 4.0% discount to Tuesday’s closing price. Shares were offered at $26.75 to $27.00. Shares in 2019’s largest U.S. IPO closed 38% below the May offering price on Tuesday ahead of lockup expiration Wednesday.This could be the first of many Uber block trades on Wednesday, a trader said. Goldman Sachs …read more

Source:: Yahoo Finance

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