Uber stock slides in trading debut after IPO prices near the low end of range

Uber Technologies Inc.’s shares skidded Friday in their first day of trade, after the ride-hailing giant made its public debut.

The stock fell more than 7% in the session after opening at $42, representing a disappointing start for the company, which had already priced its initial public offering toward the low end of its expected range of $44 to $50 a share.

Uber raised $8.1 billion in its offering at an IPO price of $45 a share. At a recent stock price of $41.57, the company had a market capitalization of almost $70 billion, based on the 1.677 million shares it had outstanding after completion of the offering.

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