'Uber's IPO is being called the worst ever by at least one measure, after the company's investors suffered higher dollar losses in the first day than in any other float in the U.S.
Uber's stock plunged 7.6 per cent on the first day of trading on Friday, wiping about $6.3billion from the company's initial valuation of $82billion at the $45-per-share offering price.
Other large companies have plunged more in percentage terms on the first day of trading - for instance ZTO Express, whose share price dropped 15 per cent on the first day of trading when in launched with a $14.3billion valuation in 2016.
But the sheer scale of Uber's valuation means that that the raw dollar losses are the biggest ever, at least on paper.
The investors that bought in at Uber's $45 offering price logged a total of $618million in paper losses Friday, noted IPO watcher Jay Ritter of the University of Florida told Fortune.
He said is the the worst dollar loss for a US IPO going back through 1975, excluding foreign stock listing in the country via American Depository Shares.
Many initial investors will likely hang on to their shares and may still turn a profit if the share price rises, it should be noted.
In terms of the share price drop, Uber's IPO ranks as the ninth worst first day performer of all time, according to DealLogic.
Only about a fifth of IPOs have ended their first day of trading in the red in the last two years, according to Dealogic data.
Uber's road to IPO was marred by several hurdles including increased regulation in several countries and fights with its drivers over wages.'
Read more: Uber was the worst performing IPO in US stock market history after its stock plunged 7.6% on the first day of trading wiping more than $6BILLION from the company's worth