Uber’s turmoil has reportedly taken a toll on its valuation
|08/23/2017||Posted by BusinessMediaguide.Com under General World News||
Uber’s series of scandals have finally started to affect the company’s value, the Wall Street Journal reports.
Four mutual funds that have invested in the app-based taxi company have marked down their stakes in it by as much as 15%, according to The Journal. Together the moves represent the first major set of markdowns to hit the company, which has faced near-continuous turmoil since late last year.
Uber’s stock, which is privately held, had been valued at $48.77 per share since late 2015. At the end of June, though, Vanguard Group, Principal, and Hartford Funds all valued it at $41.16 per read more >>>