Home IPO Uber Drops After Former CEO Kalanick Dumps Almost Entire Stake – Stock Market – Business News, Market Data, Stock Analysis

Uber Drops After Former CEO Kalanick Dumps Almost Entire Stake – Stock Market – Business News, Market Data, Stock Analysis

by TradingETFs.com

Shares of ride- and food-hailing app Uber (UBER) – Get Report fell in light, pre-holiday morning trading on Monday after co-founder and former CEO Travis Kalanick sold more than $2.5 billion worth of stock in the past six weeks, almost his entire stake.

According to public filings, Kalanick has been systematically selling his shares since Nov. 6, when the lockup period for insiders and others to hold their shares expired. He sold an additional $383 million of shares last week; his remaining stake is worth approximately $250 million.

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