Uber stock hits all-time low


Dara Khosrowshahi, CEO of Uber, seems on CNBC’s Squawk Box at the 2020 Planet Economic Forum in Davos, Switzerland on Jan,. 22nd, 2020.

Adam Galici | CNBC

Shares of Uber fell to fresh lows Thursday as traders continued to grapple with the swift spread of COVID-19. 

The stock dropped 12.35% to $23, slipping below its past intraday small of $25.58 on Nov. 6. The intraday lower arrived amid a broader market market-off, right after a speech from President Donald Trump failed to simplicity concerns about a possible economic slowdown. The S&P 500 traded down 8.3%, while the Dow Jones Industrial Common slid 9.2%.

The World Health and fitness Corporation on Wednesday declared the new coronavirus a world wide pandemic, after the deadly virus spread to more than 121,000 men and women from Asia, the Center East, Europe and the United States.

“We’re deeply worried both equally by the alarming concentrations of distribute and severity, and by the alarming concentrations of inaction,” WHO Director-Standard Dr. Tedros Adhanom Ghebreyesus claimed at a push conference at the organization’s headquarters in Geneva. “We have rung the alarm bell loud and apparent.” 

Uber warned final 7 days in an annual financial filing that “a pandemic or an outbreak of disease or equivalent community health and fitness concern, this sort of as the the latest coronavirus outbreak, or anxiety of these an function” could write-up a product danger to its enterprise.

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