The Uber Exodus Begins: Insiders Dump Millions In Shares As Lockup Expires, Stock Tumbles | WHAT REALLY HAPPENED

The Uber Exodus Begins: Insiders Dump Millions In Shares As Lockup Expires, Stock Tumbles

Uber shares have crashed to new record lows this morning as the much-anticipated expiration of the lockup-period hits the market.

An estimated 763 million additional shares, or $20 billion of Uber stock, will hit the market, according to Daniel Ives, an analyst at Wedbush.

"The lockup expiration could "cause an avalanche of selling as early investors and insiders hit the bid, which remains a major Street worry around near-term pressure," wrote Ives in a note.

And he was right. Uber is down 6%, trading at a $26 handle for the first time...

Webmaster's Commentary: 

The ending of this week, economically, could be a wild and bumpy ride indeed; I do not see the Dow getting over this for some time to come.

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