By Keith Griffith For Dailymail.com and Reuters
Published: 18:42 BST, 11 May 2019 | Updated: 18:42 BST, 11 May 2019
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Uber's IPO is being called the worst ever by at least one measure, after the company's investors suffered higher dollar losses in the first day than in any other float in the U.S.
Uber's stock plunged 7.6 per cent on the first day of trading on Friday, wiping about $6.3billion from the company's initial valuation of $82billion at the $45-per-share offering price.
Other large companies have plunged more in percentage terms on the first day of trading - for instance ZTO Express, whose share price dropped 15 per cent on the first day of trading when in launched with a $14.3billion valuation in 2016.
But the sheer scale of Uber's valuation means that that the raw dollar losses are the biggest ever, at least on paper.
Uber CEO Dara Khosrowshahi (second from right) and co-founder Ryan Graves (right) ring a bell on the trading floor of the New York Stock Exchange to mark the first trade
The investors that bought in at Uber's $45 offering price logged a total of $618million in paper losses
