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NEW YORK (AP) — Uber shares sunk even further after its disappointing stock market debut as doubts lingered over the company's ability to turn a profit and trade tensions dragged down the overall market.The ride-hailing giant's stock fell 10% and hovered around Monday afternoon on Uber's first full day of trading.The mounting losses followed Uber's disappointing initial public offering. On Friday, it took a 7 million hit — the largest loss on the first day of trading by a U.S.-based company in recent history, according to Renaissance Capital.Uber's earliest investors are still making money off the IPO, but "for late-round investors, it's possible by the time they exit they will end up with a loss," said Jay Ritter, finance professor at the University of South Florida.Among the recent big investors — and perhaps losers — is PayPal, which had disclosed plans to buy 0 million in Uber stock at the IPO price of .Uber has had no trouble convincing venture capitalists to pour money into its earlier funding rounds, but with its unclear path to profitability, it's having a more difficult time with Wall Street investors."It's clearly a high-risk, high-reward scenario. You're betting on something that may happen 10 years down the road," said Matt Kennedy, senior IPO market strategist at Renaissance Capital, a manager of IPO exchange traded funds. "Public investors are looking at profits and not seeing any, and the company's growth in the last quarter was relatively strong, but I don't think it blew anyone away."Uber's main U.S. rival, Lyft, is in a similar spiral. Its stock was trading below on Friday, down 33% from its IPO price of .It's rare to see shares in a tech company hit so hard upon going public. Over the past five years, just 10% of similar companies finished their first day of trading below their IPO price, Kennedy said.Uber's revenue last year surged 42% to .3 billion, but the company admits it could be years before it turns a profit. 2000
Next week marks President Donald Trump’s first re-election rally since March as the spread of COVID-19 forced him and rival Joe Biden off the campaign trail.Amid the spread of the coronavirus, the Trump Campaign is requiring attendees to sign a waiver.Until Friday, gatherings of 250 were still discouraged by the CDC. Now, the CDC recommends that cloth masks are used by attendees at mass gatherings. “By clicking register below, you are acknowledging that an inherent risk of exposure to COVID--19 exists in any public place where people are present,” the waiver reads. “By attending the Rally, you and any guests voluntarily assume all risks related to exposure to COVID-19 and agree not to hold Donald J. Trump for President, Inc.; BOK Center; ASM Global; or any of their affiliates, directors, officers, employees, agents, contractors, or volunteers liable for any illness or injury.”The BOK Center has a capacity of 19,000, although it’s unclear if every seat in the venue will be available. With the absence of major sporting events and concerts in recent months, Trump’s rally may end up being one of the largest indoor gatherings since the coronavirus began to spread in earnest in March.Tulsa Mayor G.T. Bynum is supportive of hosting Trump’s first campaign rally since March.“Tulsans have managed one of the first successful reopenings in the nation, so we can only guess that may be the reason President Trump selected Tulsa as a rally site,” he told Scripps station KJRH. “The City of Tulsa continues to follow the State of Oklahoma’s OURS plan on COVID-19 response as it relates to events, which encourages the organizer to have enhanced hygiene considerations for attendees.”In an interview with ABC’s Jonathan Karl, Dr. Anthony Fauci said there is a risk to attending mass gatherings, whether they be protests or political rallies. "You know, it's a danger to the people who are trying to control the demonstration," he said. "And it's a danger to the people who are demonstrating. So at the end of the day, it is a risky procedure."Last week, CDC head Robert Redfield said on Capitol Hill that he is concerned that protests could lead to coronavirus “seeding” events, which could prompt a new outbreak of the virus.Oklahoma had its largest one-day jump in coronavirus cases, with 222 new cases reported in the state on Friday.Trump also said he has rallies planned for Arizona, Florida, Texas and North Carolina. 2437
Next March, the monthly subscription price of Disney+ will increase by in the United States.During its annual Investors Day, Disney announced that beginning March 26, 2021, the monthly subscription price would cost .99. Its yearly subscription would increase by to .99.The Disney Bundle that includes Disney+, Hulu with ads, and ESPN+ would increase by to .99 per month, the company announced.The company also announced that in Europe, Disney+ would go from �6.99 to �8.99 per month, alongside the Star rollout, which debuts Feb. 23.The news comes after Netflix announced in October that they would raise the price on its standard and premium plans for its US subscribers. 698
NORFOLK, Va. (AP) — A company’s plan to retrieve the Titanic’s radio has sparked a debate over whether the famous shipwreck still holds human remains. Lawyers for the U.S. government have raised the question during their ongoing court battle to block the planned expedition. They cite archaeologists who say remains could still be there. The lawyers say RMS Titanic Inc. fails to consider that in its dive plan. But the company says human remains likely would’ve been noticed after roughly 200 dives to the site. The company also says remains would've dissolved in the harsh ocean environment. The luxury ocean liner sank in 1912 after striking an iceberg in the North Atlantic. 686
NEW YORK (AP) — Chelsea Clinton is extending her celebration of women to chapter books and the world of sports. Clinton's "She Persisted in Sports: American Olympians Who Changes the Game" will be published Sept. 22 by the children's imprint Philomel Books. The latest of Clinton's best-selling "She Persisted" picture books will include sections on Wilma Rudolph, Mia Hamm, and Venus and Serena Williams. Also on Monday, Philomel announced that a new series of chapter books will feature 80-page stories on women that Clinton previously honored. The series begins in January with "She Persisted: Harriet Tubman," written by the award-winning author Andrea Davis Pinkney. 679
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