Uber Technologies, Inc.
|Company Name||Uber Technologies, Inc.|
|Lead Plaintiff Motion Deadline||December 03, 2019|
In May 2019, the Company completed its initial public offering (“IPO”) in which it sold 207 million shares at $45 per share.
On August 8, 2019, Uber announced its second quarter 2019 financial results, reporting $5.24 billion loss and $2.87 billion revenue. The Company also disclosed that its ridesharing revenue only grew 2% and that its sales and marketing expenses had increased by $507 million, or 71%, due to driver incentives, consumer discounts, promotions, refunds, and credits.
Since the IPO, Uber’s stock has traded as low as $36.45 per share, significantly below the $45 offering price.
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