Driving range. Marking the largest tech IPO in five years, Uber priced its shares at $45, the low end of its planned range, to raise over $8 billion in fresh backing. The deal values the #1 ride hailing firm in the world at about $82 billion, which could rise or fall when trading under the symbol UBER starts later today. What was the prior larger IPO? Answer below. The company also disclosed it has reached a settlement with 60,000 drivers who had sought arbitration over their employment classification. The deal could cost the company up to $170 million.
Mining for moolah. They say on Wall Street that markets don’t hit bottom and start rising until after capitulation, when all the disappointed sellers have given up and gone home. Maybe that’s where bitcoin is now, as the cryptocurrency finally seems to be on the rise. On Thursday, bitcoin nearly reached $6,000, its highest level in 2019.