On Friday we looked at how Uber drivers around the world went on strike in the lead up to the company’s highly anticipated initial public offering (IPO). In the years before it debuted on the New York Stock Exchange, Uber was once valued at more than $120 billion by private investors. But just a few days into its IPO, however, the company is now worth about half that amount. On its first day of trading, Uber shares opened at $3 Continue reading
Earlier this month, the music streaming service Spotify went public on the New York Stock Exchange with a valuation worth approximately $30 billion. And while that is certainly an enormous amount of money, it pales in comparison to the $93 billion that the Japanese telecom giant Softbank privately raised last year to create a technology investment fund. In the past, major IPOs such as Spotify’s tended to be the most dependable way for up-and-coming companies to receive a major infusion Continue reading
The Dow Jones Industrial average is often considered a bellwether for the economy. This stock index of 30 large publicly traded American companies offers a snapshot of the nation’s fiscal wellbeing for analysts and day traders alike. Regardless of its popularity, however, the Dow is hardly perfect. Deciding which companies comprise the index is a delicate process that sometimes omits major players. For instance, a couple years ago we shared a story in the newsletter about Apple’s absence from the Continue reading