FIRST AIRED: May 10, 2019

Nice work! Enjoy the show!

×

You’re busy. We get it.

Stay on top of the news with our Editor’s Picks newsletter.

US Edition
Intl. Edition
Unsubscribe at any time. One click, it’s gone.

Thanks for signing up!

We've got more news

Get our editor’s daily email summary of what’s going on in the world.

US Edition
Intl. Edition
Replay Program
0:00
0:00
More Info

COMING UP:Share Opener Variant 4

×

Transcript

00:00:00
one of the most anticipated IPOs out of Silicon Valley in years uber will begin trading on Friday at forty five dollars a share giving the ride hailing giant and eighty two billion dollar valuation making it the biggest IPO since Ali Baba in twenty fourteen but it's a valuation that's a third below what insider had hoped for a year ago so why is pricing so conservative Reuters reporter heather Somerville explains Hooper shares have been conservatively priced for a few reasons one is broader market conditions there's a lot of mixed messages going on about the trade negotiations between United States and China which has really wild the markets and create a lot of unease for investors secondly is the performance of left over smaller U. S. ride hailing rival company shares are trading at about fifty five dollars today that's slightly up from a record low of fifty two dollars yesterday the company priced its shares on the idea at seventy two dollars it's a huge fall so uber doesn't want that to happen to it both uber and lift are struggling with huge losses and increasing driver dissatisfaction driver activists have been demanding higher pay and this week call for a strike in many cities around the world but were met with lukewarm responses these super driver who complained about only getting a hundred dollar IPO bonus for over four thousand rights is he still wants to buy you were shares when they become public he drives twelve hours today to make the same P. he made driving eight hours a year ago but he still thinks uber is a company with a big future ahead