Uber shares hit rock bottom

The value of shares of Uber during trading on the New York Stock Exchange on November 6 fell by 8.7% to a low of $25.58, according to Bloomberg.

In the future, the shares won back the fall and approached the mark of $27 per security.

Bloomberg attributed the record drop in shares to the fact that restrictions on the sale of Uber shares after the IPO are expiring.

Uber shares began trading on the New York Stock Exchange on May 10 at $42 per share. In the following months, the share price fell by 40%. For comparison: the shares of Lyft, a competitor to Uber, have fallen in price by 25% during the same time.