Uber's IPO Joins Ranks of Wall Street Flops

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It was to usher in nothing less than a new era for Wall Street. UFAANG. That ungainly acronym, envisioned by some at Morgan Stanley as the hype grew over Uber Technologies Inc., put the ride-hailing company in the same league as the titans of tech: Facebook, Amazon, Apple, Netflix and Google. But by Friday’s closing bell, the most talked-about start-up of the decade and the biggest initial public offering of the year suddenly qualified for a different club of losers.

Source: https://www.bloomberg.com/news/articles/2019-05-11/uber-s-hype-dissolves-and-ipo-joins-ranks-of-wall-street-flops?srnd=premium-middle-east

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