But Uber’s rough opening startled investors counting on a more jubilant debut from Silicon Valley’s quintessential unicorn. The shares debuted at $42, well below the IPO price. Uber’s inauguration was no doubt closely watched by the cavalcade of IPO hopefuls lining up to list in 2019. Beyond Meat ended the week 165% over its IPO price with a valuation of $4 billion. In distributing the stock, Uber prioritized shareholders — particularly institutional investors — that it thinks will hold on to shares for a long time.

Source: Mint May 11, 2019 13:30 UTC