Uber has been rocked by a $2 billion market valuation, and the company’s stock has fallen sharply.
Bloomberg’s Tim Balsamo reports on the market’s latest price-to-earnings ratio, the share count and why it matters.
Uber shares closed at $23.72 on Tuesday.
The ride-sharing company’s share price has fallen more than 80% since March, when it hit a record high of $36.97, according to FactSet data.
Uber has lost $3.3 trillion in market value since the start of the year, and it’s currently down about 40%.
The stock is down $10.69 in after-hours trading on Tuesday, according for Nasdaq.
Uber is valued at $39 billion.
The company has about $6.4 billion in cash and short-term investments.
Uber, which launched in 2009, has a valuation of $54 billion.