If You Invested $1,000 in Uber's IPO, This Is How Much Money You'd Have Now
One of the bigger disappointments of the rookie class of 2019 is Uber (NYSE: UBER). The global top dog in the fast-growing ride-hailing market went public at $45 in May, and it's been driving in reverse for most of its brief life on the publicly traded highway. The stock closed just below $30 on Thursday, proving that only Pegasus -- and not unicorns -- can fly.
Uber shares have surrendered a third of their value since its springtime debut, and its smaller rival, Lyft (NASDAQ: LYFT), is faring even worse since going public two months earlier. It's a cruel remind that investing in IPOs is as risky as it may be exciting. An investment of $1,000 in Uber's IPO at the time of its offering would be worth just $666.44 today.
Image source: Uber.
Source Fool.com
