The bad press plaguing ride-hailing firm Uber could have knocked $60bn off its share price, according to The Information. The privately-held company was valued at $10bn at the start of the year, but its recent scandals — from employee sexual harassment allegations to outbursts by its CEO — have caused share prices to tumble to the tune of 15%, according to an unnamed trader. Uber's transaction volumes are rising, though it is difficult to gauge the extent of share sell-offs because the company is not traded on public exchanges, according to another broker cited by The Information.
The bad press plaguing ride-hailing firm Uber could have knocked $10bn off its share price, according to The Information. The privately-held company was valued at $60bn at the start of the year, but its recent scandals — from employee sexual harassment allegations to outbursts by its CEO — have caused share prices to tumble to the tune of 15%, according to an unnamed trader. Uber's transaction volumes are rising, though it is difficult to gauge the extent of share sell-offs because the company is not traded on public exchanges, according to another broker cited by The Information.