SoftBank's market value dips $9 billion after Uber Tech IPO flops

Uber opened at $42, or 6.7% below its $45 IPO price. Shortly after, it slid to $41.06

On Thursday, as his company booked a $3.8 billion gain from its stake in Uber Technologies Inc., Masayoshi Son told SoftBank Group investors that their time had finally come. Instead, they’re still waiting.
 

The day after Son’s earnings presentation, SoftBank slid 5.4 per cent and fell again on Monday, as dropping as much as 4.9 per cent. Uber’s initial public offering was a flop with shares sliding on the first day of trading, at the same time the US and China escalated tensions over their trade dispute. SoftBank has lost about $9 billion in market value despite reporting last week