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Uber shares sink

Uber shares slipped to close 7.6% down on their first day of trading, as the highly expected share market listing failed to win over investors.

CEO Dara Khosrowshahi was amid those who rang the opening bell of the New York Stock Exchange to begin trading.

By the end of the period shares were at $41.51 below the company’s listing price of $45.

On Thursday, Uber sold 180 million shares at $45 each, rising $8.1bn of cash and valuing it at $82bn (£63bn).

Shares in the ride share company got off to a rickety start, opened trading at $42, and slipped to as low as $41.06 early on.

Uber is yet to make a profit and cautioned recently it may never do so.

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