Uber Trading Volume Exceeds 10x Daily Average With Poor $27 Closing Price

Uber Trading Volume Exceeds 10x Daily Average With Poor $27 Closing Price

5 years ago
Anonymous $xdcOWPpsb_

https://wccftech.com/uber-closing-price-trading-volume/

Ride-sharing application Uber (NYSE:UBER) opened at $26.06 today. Wednesday marks the day when Uber's IPO lockup expires, allowing investors who had purchased shares during the company's IPO to sell. Trading volume for Uber shares jumped to 7x the average within two hours of market opening. Now that the markets have closed, it's time to look at how well the stock has fared, and where Uber stands in relation to its competitor Lyft (NASDAQ:LYFT). Take a look below for more details.

Through the years, Uber's proven to be a controversial company. It came under the spotlight in 2018 after allegations of sexual harassment and discrimination were reported by employees. Uber was forced to cough up $1.9 million in fines to the 54 employees who were harassed, and the company also shoveled out $11,000 each for the 485 people that were discriminated against. A year earlier, Uber's then-CEO and founder Travis Kalanick had resigned following investor demands.

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